Antofagasta (LSE:ANTO) Stock Gets Fair Value Bump As Analysts Weigh Growth And Copper

Price targets for Antofagasta have shifted, with several bullish analysts now referring to levels in the 4,300 GBp to 4,400 GBp range, while more cautious views cluster in the mid 3,000 GBp area. These moves reflect how different research houses are weighing copper price moves, updated production guidance and the degree to which future growth is already reflected in Antofagasta's valuation. Read on to see how this evolving narrative could shape your own view of the stock over the coming months.

Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value Antofagasta.

What Wall Street Has Been Saying

🐂 Bullish Takeaways

• Berenberg recently upgraded Antofagasta to Buy with a £44.00 price target and described the post copper selloff share level as compelling, which points to confidence in the stock's current valuation.

• JPMorgan moved Antofagasta to Overweight in July with a higher £45.00 target, highlighting what it views as peer leading production growth and a potential free cash flow inflection toward 2028.

• Citi lifted its target to £44.00 while keeping a Buy rating, which signals a supportive stance on Antofagasta's execution and earnings potential at that price level.

🐻 Bearish Takeaways

• Morgan Stanley kept an Underweight rating even as its target moved in a narrow £35.70 to £35.60 range, which signals ongoing concern about upside relative to Antofagasta's current share price.

• Deutsche Bank also remains cautious with a Sell rating and a £34.00 target, indicating that it sees more demanding valuation and is less convinced about the risk reward profile compared with peers.

Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!

See how Antofagasta's fair value stacks up across multiple valuation models — not just analyst targets.

How This Changes the Fair Value For Antofagasta

• Fair Value for Antofagasta has moved from £37.87 to £38.88 based on updated analyst inputs.

• Revenue Growth assumptions now use 8.64% instead of 8.60% for Antofagasta's dollar based top line.

• The Net Profit Margin assumption has shifted from 20.51% to 20.53% for expected dollar earnings efficiency.

• The Future P/E used in models has adjusted from 27.30x to 27.67x.

• The Discount Rate in current models has changed from 9.73% to 9.82%.

Never Miss an Update: Follow The Narrative

Narratives connect Antofagasta's operational story to analyst forecasts and an evolving view of fair value, using both catalysts and risks to frame what might drive future outcomes. They refresh as new company data, guidance and research come through so you can see how the story is changing over time.