Morgan Stanley Downgrades Southern Copper to Underweight, Lowers Price Target to $68
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Carlos De Alba downgraded Southern Copper (NYSE:SCCO) from Equal-Weight to Underweight and reduced the price target from $83 to $68.
November 27, 2023 | 10:58 am
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Southern Copper was downgraded by Morgan Stanley from Equal-Weight to Underweight with a price target decrease from $83 to $68.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The reduction in the price target further emphasizes a bearish outlook on the stock, suggesting that the market value may decrease to align with the new target.
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IMPORTANCE 85
RELEVANCE 100