JPMorgan analyst Dominic O’Kane downgraded Voestalpine (VLPNY) to Underweight from Overweight with a price target of EUR 36.20, down from EUR 50. The firm says events in the Middle East bring risks that are not adequately discounted into the shares of European metals and mining stocks. The analyst reversed JPMorgan’s previously positive view on the group and turns negative. It introduced a downside scenario for copper and iron ore as a new base case.
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Read More on VLPNY:
- Voestalpine price target raised to EUR 49 from EUR 40.70 at Morgan Stanley
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