Morgan Stanley analyst Ioannis Masvoulas upgraded First Quantum Minerals (FQVLF) to Overweight from Equal Weight with a price target of C$42.20, up from C$37.70. The stock’s sharp de-rating offers an attractive entry point, supported by a positive catalyst path and superior growth prospects just as copper’s strategic importance continues to rise, the analyst tells investors in a research note. On spot, the market is either ascribing near-zero likelihood of a Cobre Panama deal or overlooks the growth optionality, the firm added.
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Read More on FQVLF:
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