Rio Tinto Plc. (RIO:LN) (RIO) PT Raised to GBp6,700 at Jefferies; 'Boom Times'

February 18, 2021 8:16 AM EST
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Price: $86.31 +1.79%

Rating Summary:
    13 Buy, 10 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 20 | New: 68
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Jefferies analyst Christopher LaFemina raised the price target on Rio Tinto Plc. (RIO:LN) (NYSE: RIO) to GBp6,700.00 (from GBp6,400.00) while maintaining a Buy rating.

The analyst commented, "... Rio reported stronger than expected 2020 results this morning,with a full-year dividend that was well ahead of expectations. While iron ore prices maybe peakish and there is better value elsewhere in the sector, in our view, the cycle is a strong tailwind for miners in general, and the rising tide should lift all boats. We reiterate our Buy rating on Rio even after the recent strength."

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