BofA Downgrades Southern Copper To Underperform

Bank of America downgraded Southern Copper Corporation (NYSE:SCCO) to Underperform on February 26, while raising its price target to $175 from $162, citing a "stretched" valuation and an expected 3% production decline through 2027. Morgan Stanley on January 30 raised its price estimate to $156 from $137 but reiterated an Underweight rating after updating commodity and FX assumptions. The company operates mining and refining in Peru and Mexico.