Citi Downgrades Anglo American (AAUK) to Hold
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Citi downgrades Anglo American (Nasdaq: AAUK) from Buy to Hold.
Citi analyst says, "AAUK's share price has appreciated by 38% since its lows on the 24th January and with limited near-term catalysts, we lower our recommendation back to HOLD but maintain our price target at L35.00... AAUK has been driven higher by a combination of strong commodity prices, weakening ZAR, and greater appreciation of the company's long-term strategy and growth. We believe in the short term the only catalysts to drive AAL higher will be commodity-driven earnings momentum, which may be running out of steam."
Anglo American PLC is a mining and natural resources company.[SM]
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