Aurubis has been given a "Neutral" rating by UBS, with a target price of 65 euros.

According to analyst Daniel Major, the company's recent results and outlook were in line with expectations, and there were moderate cost reductions which were seen as positive.

However, Major cautioned that the recent increase in the stock price seemed to be driven by short covering rather than fundamental improvements.

The copper group is facing significant challenges that could affect its performance going forward.

Major's analysis reflects a cautious view on the company's prospects due to ongoing market headwinds.