Jefferies More Bullish on Copper, Raises Targets on Australian Miners
Dow Jones
3 hours ago
2135 GMT - Jefferies raises price targets on a slew of Australian copper miners after a taking a more bullish view of the outlook for the industrial metal. Jefferies increases its long-term copper price to US$6/lb, from US$5/lb. The bank's price target on Sandfire Resources rises 9% to A$25.50/share, putting it at a bigger premium to Friday's close of A$22.01. Jefferies also lifts its price target on 29Metals by 17% to A$0.38/share and on Aeris Resources by 4% to A$0.68/share. 29Metals and Aeris ended last week at A$0.33 and A$0.47, respectively.
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