The Globe and Mail reports in its Friday, March 8, edition that PI Financial analyst Connor Mackay has lowered his recommendation for Ero Copper to "neutral" from "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Mackay gave his share target a $3 boost to $27. Analysts on average target the shares at $24.70. Mr. Mackay says in a note: "The company eked out a slight beat on adj. EPS while operating cash flow (CF) was in line with our estimates. With Tucume nearing commissioning, we see our forward-looking CFPS estimates continuing to grow over the next 12-months in anticipation of Ero's copper production doubling in 2025, over 2023 levels. However, this is somewhat offset by a slower ramp-up of production through 2024 and cost creep impacting our NAV estimates. On balance, we see our expected 2025 windfall for the company continuing to earn it a premium valuation (hence our target increase), but see the stock being range-bound near our target over our 12-month rating outlook period." The Globe reported on Dec. 7 that Eight Capital analyst Ralph Profiti rated Ero Copper "neutral" in new coverage. He set a share target of $23.50. The shares could then be had for $17.30.