The Globe and Mail reports in its Tuesday edition that Scotia Capital's Orest Wowkodaw sees near-term uncertainty lingering in the copper market. The Globe's David Leeder writes that Mr. Wowkodaw has reaffirmed his "sector outperform" recommendation for Ivanhoe Electric. Mr. Wowkodaw cut his share target to $16 (U.S.) from $18 (U.S.). Analysts on average target the shares at $17.50 (U.S.). Mr. Wowkodaw says, "While demand uncertainty in both China and ex-China markets continues to overhang the near-term outlook for copper, a potential end (and possible future reversal) to the current global (ex-China) interest rate hiking cycle could positively impact sentiment for growth and by extension, most commodity prices." Mr. Wowkodaw says in a note: "All copper equities are likely to move higher if Cu prices improve, or lower if Cu prices weaken. While more modest than last quarter, valuation multiples remain somewhat elevated in the context of current spot prices. However, this is likely supported by the very constructive medium to long term fundamental picture, the energy transition thematic, and by ongoing M&A speculation. We note that margins for most producers remain solid although FCF generation appears muted."