JPMorgan upgraded Rio Tinto to Overweight from Neutral with a price target of 7,000 GBp, up from 6,310 GBp. The analyst updated forecasts in metals and mining to reflect the firm’s revised commodity price and currency forecasts. The firm also rolled price targets across its coverage to December 2025 from December 2024. JPMorgan made rating changes as part of its 2024 outlook.
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