Southern Peru Copper initiated with "buy" - update

06/23/05 - UBS

NEW YORK, June 23 (newratings.com) - Analysts at UBS initiate coverage of Southern Peru Copper Corporation (PCU) with a "buy" rating. The target price is set to $55.

In a research note published this morning, the analysts mention that the company's dividend yield is expected to remain robust going ahead. Southern Peru Copper is well positioned to raise its production faster than its peers on account of an un-leveraged balance sheet and robust demand, UBS adds.