Raymond James raises PT on Ero Copper, sees strong Q4 and growth ahead

Raymond James raises price target on Canadian copper miner Ero Copper ERO.TO to C$40 from C$33

The new price target represents an 11.6% upside to Canadian stock's last close

Brokerage views the company to be well positioned to deliver a strong Q4, meet its 2025 forecast and deliver 2026/2025 production growth at all three of its operations

"While we continue to expect ERO to be a 'show me' story in the near term with investors looking for full ramp up of its mills, Tucuma and normalization of Caraiba and Xavantina, we believe the current valuation represents good value" - brokerage

Nine of 15 rate "buy" or higher, six "hold"; median PT is C$37 - data compiled by LSEG

As of last close, ERO up ~85% YTD