Market News / Story
Nexa Resources raised at Morgan Stanley on compelling valuation, Boliden tender offer
Seeking Alpha ·
Seeking Alpha reports: Nexa Resources rose 2.1% in Wednesday's trading as Morgan Stanley upgraded the zinc miner and smelter to Overweight from Equal Weight with a $14.20 price target, raised from $13.50, saying the stock's recent pullback despite zinc and copper prices rising 5% and 8%, respectively, over the past three months has created an attractive entry point. The slide in Nexa shares suggests the market lacks confidence in the sustainability of high zinc prices, according to analyst…