Morgan Stanley Maintains Underweight on Southern Copper, Raises Price Target to $135
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Carlos De Alba maintains an Underweight rating on Southern Copper (NYSE:SCCO) and raises the price target from $123 to $135.

April 30, 2024 | 4:57 pm
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Morgan Stanley maintains an Underweight rating on Southern Copper but raises the price target from $123 to $135.
While the upgrade in price target from $123 to $135 suggests a positive outlook on the valuation of Southern Copper, the maintenance of an Underweight rating by Morgan Stanley indicates ongoing concerns or skepticism about the company's future performance. This mixed signal could lead to neutral short-term price movement as investors weigh the increased price target against the bearish rating.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100