Goldman Sachs recently rattled copper investors by lowering its price forecast for the red metal. The investment bank's analysts are reeling in their expectations for a rally in copper (HGZ24), citing softening demand from China, the world's largest consumer of the industrial metal. This bearish outlook stems from concerns about China's property sector woes and a slower-than-anticipated economic recovery post-pandemic.
But some analysts are calling out opportunities to buy the dip. Raymond James just upgraded one copper stock, swimming against the current market pessimism toward industrial metals. The analysts at Raymond James are betting on a "step change" in copper production for this producer, seeing potential where others might be wary.
