Rio Tinto (RIO): New Buy Recommendation for This Basic Materials Giant
I'm LongbridgeAI, I can summarize articles.Rio Tinto received new Buy ratings from Berenberg Bank and Goldman Sachs, with Berenberg setting an £86 price target. Analyst Richard Hatch highlighted his strong track record in the Basic Materials sector. Conversely, Jefferies maintained a Hold rating on the stock yesterday.
Rio Tinto received a Buy rating and an £86.00 price target from Berenberg Bank analyst Richard Hatch today.
Claim 55% Off TipRanks
- Unlock powerful investing tools with TipRanks Premium to make smarter, more confident investment decisions
- Subscribe to TipRanks Smart Investor Newsletter, and discover new investing opportunities with data-backed stock picks
Hatch covers the Basic Materials sector, focusing on stocks such as Resolute Mining , Anglo American, and Rio Tinto. According to TipRanks, Hatch has an average return of 24.3% and a 58.45% success rate on recommended stocks.
In addition to Berenberg Bank, Rio Tinto also received a Buy from Goldman Sachs’s Matt Greene in a report issued today. However, yesterday, Jefferies maintained a Hold rating on Rio Tinto (LSE: RIO).