JPMorgan lowered the firm’s price target on Ivanhoe Electric (IE) to $16 from $17 and keeps an Overweight rating on the shares as part of a Q4 preview for the North America base metals group. The firm anticipates “optimistic commentary” on potential China stimulus, but says much will depend on how U.S. trade policy unfolds. Should tariffs fall short of expectations, “we wouldn’t be surprised to see at least a partial unwind of the tariff trade,” the analyst tells investors in a research note. JPMorgan recommends investors stay selective, focusing on “oversold equities with idiosyncratic tailwinds.” Over the mid- and longer-term, it continues to favor copper within the base metals complex on expectations of continued supply challenges and strong electrification trends globally.
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Read More on IE:
- Ivanhoe Electric’s Typhoon Technology Unveils New Copper Zone in Saudi Arabia
- Ivanhoe Electric and BHP Advance Mineral Exploration in Southwest U.S.
- Ivanhoe Electric price target lowered to $13.50 from $14 at Scotiabank
- Ivanhoe Electric Inc. Reports on U.S. Exploration Advances
- Ivanhoe Electric price target lowered to $10 from $15 at Jefferies
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