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Ero Copper Upgraded to Outperform at Raymond James
2024-09-03 23:07
11:07 AM EDT, 09/03/2024 (MT Newswires) -- Ero Copper Corp. (ERO.TO, ERO) was upgraded to Outperform from Market Perform at Raymond James.
Analyst Farooq Hamed raised his price target on shares of the Vancouver-based copper producer focus on Brazil to $36 from $34.
"We are upgrading Ero Copper... on our expectations of a step change in copper production starting in 3Q24 and growing through 2025 translating into strong cash flow and EBITDA growth over the period," Hamed said in a note to clients.
"Further, we believe valuation for ERO does not fully reflect the growth expected to begin in 3Q24 as compared to copper peers," the analyst said.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 26.10, Change: -1.61, Percent Change: -5.81
