JP Morgan Maintains Underweight on Southern Copper, Raises Price Target to $55.5
Portfolio Pulse from richadhand@benzinga.com
JP Morgan analyst Rodolfo Angele maintains an Underweight rating on Southern Copper (NYSE:SCCO) and raises the price target from $52.5 to $55.5.
August 17, 2023 | 2:34 pm
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NEGATIVE IMPACT
JP Morgan maintains an Underweight rating on Southern Copper and raises the price target to $55.5, indicating a bearish outlook.
The Underweight rating maintained by JP Morgan indicates a bearish outlook for Southern Copper. The increase in price target, however, suggests that the analyst sees some upside potential, but overall, the sentiment remains negative. This could potentially lead to a decrease in SCCO's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100