Ero Copper Corp. (ERO:CA) Scotiabank Raises Valuation Forecast on Copper Outlook

Ero Copper Corp. (ERO) Bank of America Downgraded to Neutral from Buy

Ero Copper Corp. (ERO:CA)

Scotiabank raised their 12 month target price on Ero Copper to $45.00 from $36.00, reflecting the firm’s more constructive outlook on copper prices and the improving supply-demand balance in the global copper market. The revised valuation outlook incorporates higher long-term copper price assumptions, which materially enhance Ero’s projected cash flow and valuation given its strong operating leverage to the metal.

Scotiabank continues to view Ero Copper as well positioned due to its high-quality Brazilian asset base, solid production profile, and disciplined capital allocation. The company’s ability to generate robust free cash flow in a stronger copper pricing environment supports balance sheet flexibility and potential reinvestment in growth initiatives. Overall, the target adjustment underscores growing confidence in Ero’s earnings trajectory and its capacity to benefit disproportionately from sustained strength in copper markets.

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