UBS reaffirms its 'buy' recommendation on Antofagasta and its price target of 1,700 pence, a target that still implies a 5% upside potential for the Chilean mining company's stock, despite its recent revaluation.

In the summary of its note, the broker says it still sees significant potential, judging that copper price risks remain on the upside, and that Antofagasta 'offers a combination of organic growth and copper leverage'.

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