Espirito Santo Investment Bank Research Reiterates “Buy” Rating for Rio Tinto (RIO)
Rio Tinto (LON:RIO)‘s stock had its “buy” rating reaffirmed by equities researchers at Espirito Santo Investment Bank Research in a research report issued on Tuesday, StockRatingsNetwork.com reports. They currently have a GBX 3,980 ($63.85) price objective on the stock. Espirito Santo Investment Bank Research’s target price suggests a potential upside of 32.67% from the company’s current price.
Rio Tinto (LON:RIO) opened at 2943.50 on Tuesday. Rio Tinto has a 1-year low of GBX 2579.2219 and a 1-year high of GBX 3872.6101. The stock has a 50-day moving average of GBX 3085. and a 200-day moving average of GBX 2987.35. The company’s market cap is £54.387 billion.
RIO has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Rio Tinto in a research note to investors on Tuesday. They now have a GBX 4,570 ($73.32) price target on the stock. Separately, analysts at AlphaValue reiterated a “reduce” rating on shares of Rio Tinto in a research note to investors on Thursday, October 3rd. They now have a GBX 2,896 ($46.46) price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Rio Tinto in a research note to investors on Wednesday, October 2nd. They now have a GBX 3,800 ($60.97) price target on the stock. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and twenty-three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of GBX 3,806.68 ($61.07).
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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