The South32 Ltd (ASX: S32) share price is up 5% to $3.36 after Credit Suisse upgraded the mining giant’s shares to a neutral rating from underperform. While the move was made largely on valuation grounds, an increase to the broker’s price forecasts for aluminium, copper, and metallurgical coal supported the change of rating. South32’s shares have, however, now surpassed the broker’s $3.30 price target.
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