BofA downgraded Southern Copper (SCCO) to Underperform from Neutral with a price target of $175, up from $162. The firm cites the stock’s “stretched” valuation and weakening near-term operations for the downgrade. BofA says Southern Copper’s valuation following the recent share rally is “difficult to justify.” It expects the company’s production to decline 3% through 2027. Southern Copper shares are pricing in a bullish case that is unlikely to play out, contends the firm.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SCCO:
- 3 Top Copper ETFs to Catch the Rise in AI’s Favorite Metal
- Southern Copper price target raised to $150 from $148 at UBS
- Southern Copper price target raised to $156 from $137 at Morgan Stanley
- Southern Copper price target raised to $192 from $182 at Wells Fargo
- Southern Copper Earnings Call: Profits Soar, Output Slips