FBR Capital Raises Estimates, PT on Southern Copper (SCCO)
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
FBR Capital analyst Lucas Pipes reiterated an Outperform rating and raised estimates and his price target on Southern Copper (NYSE: SCCO) to $38.00 (from $33.00) following the company’s new detailed annual cost guidance provided on its 2Q16 conference call.
"Southern Copper cited assumptions of flat oil and other consumable pricing for its near-term cost estimates," Pipes commented. "Longer-term costs were guided lower on increasing low-cost production through project completion as well as greater by-product sales, with latter years also including production from Tia Maria. On these adjustments primarily, we are increasing our price target."
Shares of Southern Copper closed at $26.01 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- Jefferies Cuts Price Target on Crown Holdings (CCK) Following 3Q
- FBR Capital Raises price Target on Gentex Corp (GNTX) to $22
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!