JPMorgan Chase & Co. Increases Rio Tinto Price Target to GBX 4,300 (RIO)
Stock analysts at JPMorgan Chase & Co. increased their target price on shares of Rio Tinto (LON:RIO) from GBX 4,200 ($65.67) to GBX 4,300 ($67.23) in a report issued on Tuesday, AR Network reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 33.64% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group reiterated a “buy” rating on shares of Rio Tinto (LON:RIO) in a research note to investors on Monday. They now have a GBX 3,600 ($56.29) price target on the stock. Separately, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Rio Tinto (LON:RIO) in a research note to investors on Monday. They now have a GBX 3,590 ($56.13) price target on the stock. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Rio Tinto (LON:RIO) from GBX 2,500 ($39.09) to GBX 2,550 ($39.87) in a research note to investors on Friday. They now have a “sell” rating on the stock.
Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-three have issued a buy rating to the stock. Rio Tinto presently has an average rating of “Buy” and an average price target of GBX 3,766.94 ($58.90).
Rio Tinto (LON:RIO) traded up 2.78% on Tuesday, hitting GBX 3217.50. 5,449,988 shares of the company’s stock traded hands. Rio Tinto has a 1-year low of GBX 2579.22 and a 1-year high of GBX 3872.6101. The stock has a 50-day moving average of GBX 3040. and a 200-day moving average of GBX 2999.. The company’s market cap is £59.450 billion.
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.