JPMorgan Raises Southern Copper (SCCO) Target But There’s Still a Catch

With short percentage of shares outstanding at 1.42%, Southern Copper Corporation (NYSE:SCCO) is among the 7 Best EV Charging Infrastructure Stocks to Buy Now.

On June 17, JPMorgan analyst Rodolfo Angele raised the firm’s price target on Southern Copper Corporation (NYSE:SCCO) to $131.50 from $127 while maintaining an Underweight rating on the shares. The adjustment followed an update to the firm’s financial model and reflects a more constructive outlook for the company’s earnings potential and operating environment, despite the continued cautious rating.

On June 15, Scotiabank analyst Alfonso Salazar increased the firm’s price target on Southern Copper Corporation (NYSE:SCCO) to $140 from $135 while maintaining an Underperform rating. The analyst updated valuation targets across the metals and mining sector and noted that the global copper market appears tighter than many investors anticipate. Scotiabank believes projected medium-term supply growth may be insufficient to fully balance market demand, creating a supportive backdrop for copper pricing over time.

Southern Copper Corporation (NYSE:SCCO) was founded in 1952 and is headquartered in Phoenix, Arizona. The company mines, smelts, and refines copper, molybdenum, and other critical minerals. It is involved in EV charging infrastructure by supplying the raw copper essential for manufacturing electric motors, vehicle batteries, and charging station cables.

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