Bull run just beginning, CFRA says

Bull run just beginning, CFRA says

Freeport-McMoRan oil and gas drilling in Los Angeles, part of Freeport-McMoRan Copper & Gold Inc.

Mario Anzuoni | Reuters

The copper bull run could be just beginning, according to investment research firm CFRA, as Chinese demand, the push toward decarbonization and South American supply risks converge.

Copper has been trading near all-time highs in recent weeks and, after slipping on a warning from China over speculation earlier this week, prices picked up again on Tuesday.

In a note to investors Friday, CFRA argued it remains bullish on the red metal, echoing the likes of Bank of America and Goldman Sachs, which recently characterized copper as “the new oil” and projected a multi-year bull market fueled by a surge in green capital expenditure and a dearth of mining projects.

CFRA suggested the copper bull run might be in the “early to middle innings,” with significantly more upside potential.

Taking this into account, Equity Research Analyst Matthew Miller picked four stocks poised to outperform their peers and the broader market as a result of the rally.

Total
0
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts