2220 GMT - The recent run-up in Sandfire Resources's stock prompts Wilsons Advisory analysts Sam Catalano and Ben Wood to downgrade the copper miner to market-weight from overweight. The analysts say the stock is up by roughly a third since they upgraded their rating to overweight in late July. "While we remain positively predisposed toward SFR (and to structurally strong copper markets over the medium/longer term)," the stock's value is starting to look somewhat stretched versus peers, say the analysts. They keep a target of A$9.90/share. Sandfire ended Monday at A$11.14/share, an all-time high. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
October 14, 2024 18:20 ET (22:20 GMT)
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