(CercleFinance.com) – UBS reaffirms its ‘buy’ recommendation on Antofagasta and its price target of 1,700 pence, a target which still implies a potential upside of 5% for the shares of the Chilean mining company, despite its recent revaluation.
In the summary of its note, the broker indicates that it still sees significant potential, judging that the risks on copper prices remain oriented upwards, and that Antofagasta ‘offers a combination of organic growth and leverage on the copper’.
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