UBS downgraded Anglo American to Neutral from Buy with a price target of 2,750 GBp, up from 2,500 GBp. The analyst now sees the company’s commodity basket risk/reward as balanced with copper prices rallying faster than expected. If Anglo does not restructure there is potential for another takeover approach in six months, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NGLOY:
- BHP, Anglo struggle to find common ground as deal deadline nears, Reuters says
- Anglo American rejects latest BHP offer, extends deadline to May 29
- BHP announces ‘increased and final’ offer ratio for Anglo American
- Anglo American price target raised to 2,775 GBp from 2,600 GBp at JPMorgan
- Anglo American price target raised to 3,000 GBp from 1,600 GBp at Berenberg