Anglo American: UBS confirms buy recommendation on stock

(CercleFinance.com) - UBS confirms its Buy recommendation on the share with an unchanged target price of 2,500 pence, representing 35% upside potential.


"Anglo is looking to simplify its portfolio ...we see Diamonds & Nickel as strategically less important. The copper price remains the key near term catalyst..." UBS says.

The mining company has stated its intention to reduce production by around 4% in 2024, then by around 3% the following year, before an expected recovery of around 4% in 2026.

The cuts are more aggressive than expected, but we still believe the risk/reward ratio is attractive... the broker adds.


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