Anglo American downgraded to Underweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Alain Gabriel downgraded Anglo American to Underweight from Equal Weight with a 3,030 GBp price target. Prospects of a reopening in China and support for its property market have driven a rally in mining shares, which are now pricing in a high level of optimism, Gabriel tells investors in a research note. The analyst now sees modest downside in shares of Anglo American.