Morgan Stanley downgraded Antofagasta (ANFGF) to Underweight from Equal Weight with a price target of 3,050 GBp, down from 3,070 GBp. The stock’s valuation premium “has reached historical highs,” which skews the risk/ reward unfavorably, the analyst tells investors in a research note.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ANFGF:
- 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
- Antofagasta Reshapes Board as Luksic Family Roles Shift
- Antofagasta price target raised to 3,070 GBp from 3,000 GBp at Morgan Stanley