0345 GMT - Miner Sandfire Resources gains a bull in Goldman Sachs, which reckons the stock is undervalued and will benefit from medium- and long-term copper tailwinds. Sandfire--down roughly 9% this year--has strong free cash flow and is forecast to be net cash by end of FY 2026 on GS's estimates. The bank says it is positive on copper, despite the likelihood of more volatility in the short term. GS upgrades Sandfire to buy from neutral while trimming its target on the stock to A$10.20 from A$10.40. Sandfire is down 3.9% at A$8.43 as Australian mining stocks tumble on tariff concerns. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
April 08, 2025 23:45 ET (03:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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