Sibanye Stillwater upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital upgraded Sibanye Stillwater to Outperform from Sector Perform with a price target of $10, down from $11. Weak platinum markets and operational issues have left Sibanye trading at attractive levels, the analyst tells investors in a research note. The firm expects a rebound in the commodity basket to drive a re-rating of the shares. RBC estimates the company’s commodity basket will increase by 8% during the second half of the year, helping to improve its profits and momentum.