Deutsche Bank Reiterates Buy Rating for Rio Tinto (RIO)
Rio Tinto (LON:RIO)‘s stock had its “buy” rating reaffirmed by investment analysts at Deutsche Bank in a note issued to investors on Friday, ARN reports. They currently have a GBX 4,300 ($67.23) price objective on the stock. Deutsche Bank’s price target suggests a potential upside of 34.94% from the company’s current price.
A number of other analysts have also recently weighed in on RIO. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Rio Tinto (LON:RIO) in a research note to investors on Thursday. They now have a GBX 3,900 ($60.98) price target on the stock. Separately, analysts at BNP Paribas reiterated an “outperform” rating on shares of Rio Tinto (LON:RIO) in a research note to investors on Tuesday. They now have a GBX 3,950 ($61.76) price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Rio Tinto (LON:RIO) from GBX 4,200 ($65.67) to GBX 4,300 ($67.23) in a research note to investors on Tuesday. They now have an “overweight” rating on the stock.
Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of GBX 3,766.94 ($58.90).
Rio Tinto (LON:RIO) traded down 1.49% during mid-day trading on Friday, hitting GBX 3139.00. 2,566,268 shares of the company’s stock traded hands. The stock has a 50-day moving average of GBX 3053. and a 200-day moving average of GBX 2999.16. The company’s market cap is £57.999 billion.
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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