The Globe and Mail reports in its Wednesday, July 15, edition that National Bank Financial analysts Shane Nagle and Rabi Nizami predict macroeconomic uncertainty in the copper market will persist, leading to further price volatility. The Globe's David Leeder writes in the Eye On Equities column that the National analysts revised their forecasts for their coverage universe to incorporate actual copper prices of $5.82 per pound for the quarter, which is higher than their previous projection of $5.50 (all figures U.S. unless otherwise stated). They also revised their near-term price assumptions to $6 per pound through to the end of 2027, up from $5.50. Mr. Nagle and Mr. Nizami say in a note, "Given the uncertainty about the possible direction of the ongoing conflict in the Middle East, we believe higher energy prices, elevated freight costs and weaker business confidence will continue to weigh on global economic growth in the near-term." Mr. Nagle and Mr. Nizami have reaffirmed their "outperform" recommendation for Capstone Copper. They boosted their share target to $16.50 (Canadian) from $14 (Canadian). Analysts on average target the shares at $17.04 (Canadian).