Goldman Sachs analyst Paul Young downgraded South32 (SOUHY) to Neutral from Buy with a price target of A$2.90, down from A$3.30. The firm cut its FY25, FY26 and FY27 EBITDA estimates by 1%, 20%, and 25%, respectively, after lowering its manganese, aluminum and alumina forecasts for 2025-2027, the analyst tells investors.
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