Exane BNP Paribas analyst Sylvain Brunet upgraded Rio Tinto to Outperform from Neutral with a 6500 GBp price target. The relocation of supply chains outside of China, defense spending and further energy transition should continue to support metals consumption in 2024 while supply response remains a challenge, 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>>
See the top stocks recommended by analysts >>
Read More on RIO:
- Rio Tinto, Giampaolo Group complete Matalco aluminium recycling transaction
- Rio Tinto upgraded to Buy from Hold at Liberum
- Rio Tinto call volume above normal and directionally bullish
- Star Diamond to acquire Rio Tinto’s 75% interest in Fort a la Corne project
- Western Copper announces further C$6M investment in Rio Tinto Canada