Morgan Stanley downgraded Southern Copper (SCCO) to Underweight from Equal Weight with a price target of $138, up from $130. The firm sees more value in aluminum than copper, and with less crowded positioning, it prefers Alcoa (AA) to most copper equities.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SCCO:
- Southern Copper price target raised to $143 from $135 at UBS
- Trump Weekly: China to suspend some controls on rare earths
- Trump Trade: Nvidia says no active talks on selling Blackwell chip to China
- U.S. adds silver, copper to ‘critical minerals’ list, Financial Times says
- Southern Copper Corp Shines in Record Earnings Call