The Globe and Mail reports in its Thursday, Feb. 13, edition that National Bank Financial analyst Shane Nagle continues to rate Ero Copper "sector perform." The Globe's David Leeder writes that Mr. Nagle knocked his share target back to $23.50 from $27. Analysts on average target the shares at $28.36. Mr. Nagle says in a note: "Our 'sector perform' rating considers Ero's near-term growth profile, incremental exploration potential and expansion opportunities, offset by more conservative near-term operating outlook, elevated debt levels and a premium P/NAV valuation. Our outlook reflects a slower ramp to commercial production and near-term funding requirements at Tucumã to service initial working capital and impact of higher costs. Combined with lower grades at Caraíba, we continue to see the potential for further liquidity needs in the coming months. Our target has decreased after incorporating lower guidance for 2025-2027, leading to a decline in EBITDA and FCF estimates." The Globe reported on Jan. 7 that Scotia Capital rated Ero Copper "sector outperform." It was then worth $20.28. The Globe reported on Feb. 4 that Mr. Nagle had reaffirmed his "sector perform" call for Ero Copper. It was then worth $18.85.