Southern Copper shares are trading lower after analysts at Morgan Stanley downgraded their rating of the stock to Underweight.
Portfolio Pulse from Luke J Jacobi
Southern Copper (SCCO) shares have declined following a downgrade by Morgan Stanley analysts, who changed the stock's rating to Underweight.
November 27, 2023 | 1:24 pm
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NEGATIVE IMPACT
Southern Copper's stock price is likely to experience downward pressure in the short term due to the downgrade by Morgan Stanley to Underweight.
Analyst ratings, especially from prominent firms like Morgan Stanley, can significantly influence investor sentiment and stock prices. A downgrade to Underweight suggests that the analysts see the stock as less favorable compared to others, which can lead to a sell-off by investors who follow these ratings.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100