Deutsche Bank Downgrades Southern Copper (SCCO) to Hold; New Commodity Price Assumptions
Tweet
Share
E-mailGet Alerts SCCO Hot Sheet
Price: $184.61 -1.59%
Rating Summary:
3 Buy, 11 Hold, 12 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 11 Hold, 12 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Deutsche Bank downgraded Southern Copper (NYSE: SCCO) to Hold.
Deutsche analyst says, "DB believes iron ore will likely remain in short supply for a few more years, which should sustain the spot price for 62% iron ore landed in China above USD140/t until 2013. On the copper side, the view is that industry challenges, such as rising operating and capital costs, will be reflected in higher LT prices. We also took the opportunity to review key assumptions such as LT growth and discount rates. Following these changes, we revised our forecasts, set new TPs and reduced our recommendations to Hold ratings on SCCO and GMexico."
For an analyst ratings summary and ratings history on Southern Copper click here. For more ratings news on Southern Copper click here.
Shares of Southern Copper closed at $31.16 yesterday.
Deutsche analyst says, "DB believes iron ore will likely remain in short supply for a few more years, which should sustain the spot price for 62% iron ore landed in China above USD140/t until 2013. On the copper side, the view is that industry challenges, such as rising operating and capital costs, will be reflected in higher LT prices. We also took the opportunity to review key assumptions such as LT growth and discount rates. Following these changes, we revised our forecasts, set new TPs and reduced our recommendations to Hold ratings on SCCO and GMexico."
For an analyst ratings summary and ratings history on Southern Copper click here. For more ratings news on Southern Copper click here.
Shares of Southern Copper closed at $31.16 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades Qifu Technology (3660:HK) (QFIN) to Hold
- Desjardins Downgrades Alithya Group Inc. (ALYA:CN) (ALYA) to Hold
- HSBC Downgrades Cisco (CSCO) to Hold
Create E-mail Alert Related Categories
DowngradesRelated Entities
Deutsche BankSign 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!
