January 16, 2018 / 12:37 PM / in 7 months

BUZZ-Deutsche Bank bullish on miners, steel stocks on higher metal prices

** Deutsche Bank raises PTs of metals & mining stocks by 5 pct on avg, forecasting higher steel and metal prices in 2018-19

** Says lack of investment in past years and limited production look good, as 2018 will see robust demand from both developing and developed countries

** Bullish on U.S. steel stocks due to government’s proposed $1 trillion infrastructure plan and potential reduction in imports

** Raises U.S. Steel Corp PT to $46 from $36, also raises PT on Reliance Steel & Aluminum, Steel Dynamics Inc and Nucor Corp

** Boosts copper price forecast by 10 pct on potential labor strikes in Chile; Raises PT on copper miner Freeport-McMoRan Inc to $15 from $13

** Sees aluminium prices gaining from Chinese supply cut; raises Century Aluminum Co PT to $16 from $14, Kaiser Aluminum Corp PT to $107 from $102

** Largely neutral on gold prices; downgrades gold miner Newmont Mining Corp to “hold” from “buy”, cuts PT to $40 from $42; raises Goldcorp Inc PT to $15.50 from $14.50 (Reporting by Karan Nagarkatti; Editing by Bernard Orr)

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