Ivanhoe Mines Ltd T.IVN

Citi analysts cut price targets for copper...

[zack50]

Citi analysts Tom Mulqueen and Maximilian J Layton lowered their price target for copper.

“We lean modestly bearish copper near term as net speculative positions imply the market is pricing a stronger global growth recovery than our economists expect. We revise our copper 0-3-month price forecast to $8,500 per ton (from $10,000/t) – Last month we highlighted upside in copper from short covering. However, this failed to materialise as faltering macro-sentiment relieved pressure on shorts. In a more recent note we reiterated our belief that copper is already pricing a China-led growth recovery.
 

[pjmcarlson]

Analysts are wrong all the time, and often they don't know what they are talking about. Many analysts also state the price of copper is going to go way up because of copper shortages due to the copper that will be needed worldwide for green energy. Often their views are biased, so interpret analyst's ratings and opinions with a healthy dose of skepticism.