The Globe and Mail reports in its Friday, Feb. 23, edition that Raymond James analyst Farooq Hamed is sticking with his "market perform" recommendation for Ero Copper. The Globe's David Leeder writes that Mr. Hamed gave his share target a $2 trim to $25. Analysts on average target the shares at $25. Mr. Hamed says in a note: "Ero Copper provided 2023 production results along with updated 2024 operating guidance and three-year production outlook. Overall, 2024 guidance compared unfavourably to our forecasts with lower expected copper production at higher costs and capex while 2025/26 production guidance was in-line with our forecasts. While the lower 2024 expectations drive a reduction in our target price, we believe the runway for Ero Copper becomes clearer as investors can digest 2024 expectations and begin to focus on growth coming in 2H24 as the Tucuma project enters production. Moreover, with the recent equity financing we believe Ero Copper is financially positioned to fund the remaining capex and ramp up of the Tucuma project without the need for further financing." The Globe reported on July 3, 2021, that Mr. Hamed had reiterated his "outperform" recommendation for Ero Copper when it could be had for $25.50.