Berenberg upgraded Rio Tinto to Buy from Hold with a price target of 6,200 GBp, up from 5,600 GBp. With a lower medium-term capital bill than BHP, and significantly less execution risk than Anglo American, Rio will be the medium-term diversified winner versus peers, the analyst tells investors in a research note. The firm sees an “economic moat” for Rio Tinto.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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>>
Read More on RIO:
- Rio Tinto price target raised to 5,700 GBp from 5,600 GBp at RBC Capital
- Uranium Energy price target raised to $9.50 from $9 at Roth MKM
- Rio Tinto Shares Surge on Aluminium Profitability Goals
- Rio Tinto price target lowered to 6,110 GBp from 6,430 GBp at JPMorgan
- Uranium Energy to acquire Wyoming assets from Rio Tinto for $175M