Fly News Breaks for October 11, 2019
Oct 11, 2019 | 04:46 EDT
Jefferies analyst Christopher Lafemina upgraded Rio Tinto to Buy from Hold with a $57 price target. The company's free cash flow strength should support the dividend in weak markets and bring upside when conditions improve, Lafemina tells investors in a research note. Rio's shares effectively behave as a "high-yield bond proxy with a growing coupon," which the market underappreciates, contends the analyst.
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