Goldman Sachs analyst Matt Greene initiated coverage of Rio Tinto with a Buy rating and 7,300 GBp price target. The analyst says Glencore and Rio Tinto present the strongest balance sheets, coupled with strong cash flows with the most valuation upside in the Europe metals and mining group. Goldman is positive on copper and aluminum, and Rio Tinto delivers the best near-term production growth in both commodities, the analyst tells investors in a research note.
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