Rio Tinto: UBS upgrades stock
(CercleFinance.com) - UBS has upgraded Rio Tinto shares from "sell" to "neutral", raising its target price for them from 4800 pence to 5200 pence, new target price that suggests upside potential of 6% for the Anglo-Australian mining company's shares.
"With inventories so low, iron ore prices are set to hold up >$100/t over the next 6mths...", the broker predicts, which also points to the share's underperformance in its summary.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"With inventories so low, iron ore prices are set to hold up >$100/t over the next 6mths...", the broker predicts, which also points to the share's underperformance in its summary.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.