Morgan Stanley Raises Price Target for Metlen

09:27 20/9/2024 - Πηγή: iEfimerida

Morgan Stanley has expressed optimism for Metlen, a leading metals and mining company, by revising its price target to €47. The investment firm maintains its "buy" recommendation, suggesting a potential upside of 39% from current levels.

In its recent sector report, Morgan Stanley acknowledged the overall weakness in the metals industry, primarily attributed

to sluggish economic activity in China.

This downturn has prompted the firm to lower price targets for many companies within the sector.

However, Metlen has emerged as a notable exception. Morgan Stanley analysts commend the company's robust energy and metals integration model, coupled with its fully vertically integrated production process of bauxite, alumina, and aluminum. This unique combination sets Metlen apart from its peers in Europe.

Based on Metlen's high-quality production and strong fundamentals, Morgan Stanley has increased the price target to €47, reinforcing its "buy" rating. The firm now ranks Metlen among its top five picks within the metals sector, highlighting its significant upside potential compared to other companies under its coverage.

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