RBC Capital lowered the firm’s price target on Rio Tinto (RIO) to 5,500 GBp from 5,600 GBp and keeps a Sector Perform rating on the shares, following the company’s “mixed” Q3 results. The firm noted that while most “key assets performed broadly in line” with RBC’s expectations, “operational issues at Kennecott and a flagged product strategy change in the Pilbara have resulted in CY24-30e EPS reduction.”
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