(CercleFinance.com) – UBS downgrades its recommendation on Rio Tinto from ‘neutral’ to ‘sell’ despite a price target raised from 4,600 to 5,000 pence, a new target which still implies a downside potential of 14% for the share of the Anglo-Australian mining company.
‘The stock is up almost 40% from the lows of late October’, underlines the broker, considering that ‘the outlook has improved with the reopening of China and the weakness of the US dollar, but not so much only that…’
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