Morgan Stanley analyst Carlos De Alba raised the firm’s price target on Southern Copper to $100 from $81.70 and keeps an Underweight rating on the shares as part of a broader research note on U.S. Metals & Mining names. Global decarbonization and electrification trends, rising geopolitical tensions testing legacy supply chains and increasingly challenging conditions to develop new supply continue to underpin a positive outlook for the mining sector in the coming years, though the firm prefers companies with short-term catalysts, the analyst tells investors in a research note.
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