Barclays analyst Amos Fletcher upgraded Rio Tinto to Equal Weight from Underweight with a price target of 5,800 GBp, up from 4,300 GBp. China’s reopening and "whatever it takes" approach to the property sector are "tectonic shifts" that should underpin an acceleration in commodity demand through 2023, Fletcher tells investors in a research note. The analyst says 2023 is set to be another strong year for the miners and steels.
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Published first on TheFly
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Read More on RIO:
- Rio Tinto upgraded to Buy from Sell at Berenberg
- Rio Tinto price target raised to 6,200 GBp from 5,800 GBp at Deutsche Bank
- JPMorgan says Rio Tinto has ‘run too hard,’ downgrades to Underweight
- Rio Tinto downgraded to Underweight from Neutral at JPMorgan
- Rio Tinto downgraded to Sell from Neutral at UBS