2022-07-07 05:59:56 RIO Rio Tinto
07/07/22 07/0705:59 07/07/2205:59 | Rio Tinto downgraded to Sell from Hold at BerenbergBerenberg analyst Jonathan Guy downgraded Rio Tinto to Sell from Hold with a price target of 4,200 GBp, down from 6,500 GBp. The mining sector's weakness has been exacerbated by the weak historical performance of industrial metals during recessionary periods, Guy tells investors in a research note. The analyst thinks the diversifieds "will have a tricky reporting season." Against the backdrop of an unsupportive macro environment, Rio Tinto will miss first half of 2022 earnings expectations, contends Guy. |
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