Sibanye Stillwater downgraded to Neutral from Buy at BofA

BofA analyst Cameron Needham downgraded Sibanye Stillwater to Neutral from Buy with a price target of ZAR 33, down from ZAR 36. The analyst thinks Sibanye is entering a period of high spending as part of its pivot to battery metals. The company reported “disappointing financial results and a challenging operational outlook,” the analyst tells investors in a research note.