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.
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Read More on ANFGF:
- Antofagasta price target raised to 2,900 GBp from 2,800 GBp at Deutsche Bank
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- Antofagasta price target raised to 3,070 GBp from 3,000 GBp at Morgan Stanley