Citi analyst Ephrem Ravi raised the firm’s price target on Anglo American to 2,800 GBp from 2,500 GBp and keeps a Buy rating on the shares. The analyst believes the company’s copper business alone is worth 5% higher than the current share price. If Anglo’s current multiple is sustained for too long it could trigger a break-up of the company to realize the sum-of-the-parts in light of the potential 100% upside that it would present, on Citi’s estimate, the analyst tells investors in a research note.
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