The Globe and Mail reports in its Tuesday edition that CIBC World Markets analyst Bryce Adams has reaffirmed his "neutral" recommendation for First Quantum Minerals. The Globe's David Leeder writes that Mr. Adams raised his share target for First Quantum to $29 from $28. Analysts on average target the shares at $35.01. Mr. Adams says in a note: "We have revised our commodity price assumptions and expect copper prices to bottom in H2/23 from near-term headwinds of weaker economic data from China and the U.S. In the medium and longer-term, we remain constructive on the red metal. Given this view, we expect to see buying opportunities in copper equities later this year. On average, our H2/23 copper forecast is $3.55/lb, and prices at or below this level can provide investors with attractive entry points ahead of strong supply and demand fundamentals into 2024. ... We expect the copper market to be in a slight deficit position from 2023 to 2026. We have taken a copper cautious tone for the last 12 months and make no rating changes at this time." The Globe reported on May 20 that Stifel analyst Alex Terentiew had resumed coverage on First Quantum with a "buy" recommendation. The shares could then be had for $31.67.