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RIO - Deutsche Bank rates as Hold
BY BROKER NEWS - 13/06/2018 | VIEW MORE BROKER UPDATES

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RIO - RIO TINTO LIMITED


While believing some of the bear scenarios regarding rapidly rising scrap consumption are premature, Deutsche Bank expects Chinese demand for iron ore to peak around 2020 and limit the growth potential for the major producers. The broker reduces assumptions for Rio Tinto's iron ore production from 2021.

The stock has re-rated versus its peers following a successful strategy of asset sales, de-leveraging and high cash returns. Following this significant rebound the broker downgrades to Hold from Buy. Target is steady at $89.

Sector: Materials.

Target price is $89.00.Current Price is $85.10. Difference: $3.90 - (brackets indicate current price is over target). If RIO meets the Deutsche Bank target it will return approximately 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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