Buenaventura price target raised to $45 from $32 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Buenaventura (BVN) to $45 from $32 and keeps an Overweight rating on the shares as part of a broader research note on Americas Metals & Mining. The firm expects Middle East conflict and geopolitical tensions to keep volatility in the mining space elevated, adding that it favors precious metal-exposed names as it expects gold/silver prices to strengthen. Morgan Stanley adds that Buenaventura’s directly controlled operations have continued to improve and Antofagasta’s strategic investment in the company highlights the value of its growth prospects and its stake in Cerro Verde.