UBS AG has reiterated its "Neutral" rating for Aurubis, with a target price of 65 euros.
According to analyst Daniel Major, the company's recent results and outlook were in line with expectations, with moderate cost reductions being seen as a positive development. However, Major expressed concerns that the recent price rally was driven by short covering rather than fundamental improvements. The copper group continues to face significant challenges that could affect its performance going forward.
Major's analysis reflects a cautious stance on Aurubis amid ongoing market pressures.