Canaccord analyst Tim Huff downgraded Antofagasta (ANFGF) to Hold from Buy with a price target of 4,100 GBp, up from 3,165 GBp. The firm raised its target by 30% after incorporating 2025 and 2026 guidance into its model, but downgrades its rating as it thinks the smaller cap copper names now hold more value and it sees more limited upside for Antofagasta than in 2025.
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Read More on ANFGF:
- Antofagasta downgraded to Underweight from Equal Weight at Morgan Stanley
- Antofagasta price target raised to 2,900 GBp from 2,800 GBp at Deutsche Bank
- Antofagasta downgraded to Neutral from Buy at UBS
- Antofagasta Cuts Net Costs to Five-Year Low as Growth Projects Stay on Track
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