Antofagasta: UBS downgrades stock

(CercleFinance.com) - UBS has downgraded its rating on Antofagasta to "sell" (from "neutral"), while increasing its target price for the share to 1,450 pence (from 1,350 pence - current price: 1,705 pence, -4.
3%), with its new target price representing downside potential of 19% for the Chilean mining company's stock.

"In our view the risk of higher taxes in Chile is no longer appropriately discounted and copper is likely to be benefit least from supply disruptions," the broker summarised.


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