Ero Copper Price Target Raised to CA$56.00 at CIBC

MT Newswires Live09-23 20:08

CIBC Capital Markets raised its price target on Ero Copper (ERO.TO) to CA$56.00 from CA$5200.

Analyst Anita Soni maintained a neutral rating on shares of the mining company following its 2026 Capital Markets Day, tours of its three operating assets, and a revision to her valuation methodology.

"We believe Price to Sustainable Free Cash Flow (P/SFCF) better reflects near-term equity value as the company transitions to stronger free cash flow generation, while P/NAV captures the long-term value of the asset base," Soni said in a note to clients.

The analyst said she also raised her Price to Net Asset Value (P/NAV) target multiple to "reflect ongoing balance sheet deleveraging and improving operational execution".

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

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