News Formal

Goldman Sachs and others expect copper prices to soar. Here are some related stocks that analysts love

  • 📰 CNBC
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Citi predicts that copper prices could rise almost 50%. For those looking to cash in, CNBC Pro screened for related stocks which are analyst favorites.

Copper prices are at their lowest levels in almost a year, but it could provide investors with a buying opportunity. Wall Street analysts have turned bullish on the metal, with Citi among the banks expecting prices to soar. In its base case, copper could rise by nearly 50% in 2025 to $12,000 per ton, while in the bull case, prices could double to $15,000 per ton, Citi said in a May 31 note.

"Whilst China's demand strength has been underappreciated, it is equally important to recognise the persistence of a negative shock in mine supply as a tightening effect on this market." Overall, long-term global demand for copper is growing, thanks to continued policy support for renewables and electric vehicles, according to Goldman. The metal has a wide range of applications throughout construction and industry.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Goldman Sachs likes this Mexican telecom stock to play the country’s red-hot marketGoldman this week initiated the stock with a buy rating and a price target of $6.10 per share on its U.S.-listed shares.
Källa: CNBC - 🏆 12. / 72 Läs mer »