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Fly News Breaks for March 12, 2019
ANFGY
Mar 12, 2019 | 07:13 EDT
RBC Capital analyst Tyler Broda downgraded Antofagasta to Sector Perform and lowered his price target to GBP850 from GBP890, saying the risk-reward is now more balanced after the recent sentiment recovery and a rebound in copper prices. The analyst adds that Antofagasta's investment phase is likely to compress free cash yields in the near term, but still sees the stock as a "good exposure to metals, especially with copper being one of our more favored long-term exposures".
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