Anglo American: Jefferies still a buyer
(CercleFinance.com) - An analyst at Jefferies today confirms a "Buy" rating on the Anglo American share, although has revised his financial forecasts for the group in a sector report.
"We have lowered most of our earnings estimates and target prices to reflect the expected impact of COVID on demand. Our base case for COVID has shifted from a Q1 demand shock to a cascade of temporary demand and supply shocks," the broker said.
Thus, although he confirmed his target price of 2,600 pence for the share, he has trimmed its EPS expectations for 2020, now expecting 2.55 dollars against 2.64 dollars previously.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"We have lowered most of our earnings estimates and target prices to reflect the expected impact of COVID on demand. Our base case for COVID has shifted from a Q1 demand shock to a cascade of temporary demand and supply shocks," the broker said.
Thus, although he confirmed his target price of 2,600 pence for the share, he has trimmed its EPS expectations for 2020, now expecting 2.55 dollars against 2.64 dollars previously.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.