Wells Fargo raised the firm’s price target on Southern Copper (SCCO) to $144 from $137 and keeps an Equal Weight rating on the shares. The firm says supply constraints can support copper and aluminum prices, especially through Q3 2026. Wells also points out that steep power costs and copper switching especially boost aluminum.
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Read More on SCCO:
- Southern Copper downgraded to Underperform from Market Perform at Itau BBA
- Southern Copper price target raised to $119.50 from $114.50 at JPMorgan
- Morgan Stanley downgrades Southern Copper, says valuation unwarranted
- Southern Copper downgraded to Underweight from Equal Weight at Morgan Stanley
- Southern Copper price target raised to $143 from $135 at UBS