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Fly News Breaks for November 2, 2018
SCCO
Nov 2, 2018 | 06:05 EDT
UBS analyst Andreas Bokkenheuser upgraded Southern Copper to Buy while lowering his price target for the shares to $46 from $52. The analyst sees a favorable risk/reward profile with the stock down 13% from recent highs. He believes the share price is already reflecting potential earnings downgrades by the Street. From here, Southern Copper will be a beneficiary of rising power grid spending in China and falling refined copper inventories, Bokkenheuser tells investors in a research note.
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