UBS Moves Antofagasta to Neutral, Lifted Price Target Highlights Valuation Concerns
UBS downgraded Antofagasta from Buy to Neutral while increasing its price target to GBP42.00 from GBP35.00, pointing to the stock's substantial outperformance and stretched valuation. InvestingPro data shows the shares trading at $49.43 and flags elevated multiples versus historical norms, amid strong shareholder returns and sector-wide momentum dr…