** Scotiabank raises price target on copper miners
** Brokerage anticipates relatively tight commodity markets in 2026, especially for copper due to supply-side constraints, and expects modest copper production growth, slightly higher unit costs, and generally higher capex
** Brokerage raises PT on the following companies
COMPANY | OLD PT | NEW PT | UPSIDE/DOWNSIDE TO STOCK'S LAST CLOSE |
Freeport-McMoRan FCX.N | $47 | $63 | 13.5% |
Teck Resources TECKb.TO | C$60 | C$70 | 1.6% |
Southern Copper SCCO.N | $90 | $92 | (41.8%) |
Hudbay Minerals HBM.TO | C$26 | C$31 | 5.6% |
(Reporting by Dharna Bafna in Bengaluru)
((Dharna.bafna@thomsonreuters.com))