Information Provided By:
Fly News Breaks for December 11, 2019
RIO
Dec 11, 2019 | 15:39 EDT
Citi analyst Paul McTaggart downgraded Rio Tinto to Neutral from Buy with a reduced price target of A$100. The rating change reflects the outperformance of the shares over the last twelve months compared to the ASX200, he stated. On a broad basis, the firm's economists expect global growth to be modestly higher in 2020, with much of the improvement coming from emerging markets, which "on the whole" is positive for commodities, McTaggart added in his note to investors.