Anglo American: UBS still a buyer

(CercleFinance.com) - UBS believes that the outlook is improving.
The analyst confirms his Buy recommendation on the stock, with an unchanged target price of 2,500 pence, representing upside potential of 35%.

The broker is a buyer of Anglo as it is bullish on copper; PGM fundamentals are starting to look pretty compelling (and provide a good hedge against iron ore weakness)..., it says.

Anglo is looking to simplify its portfolio... we consider diamonds and nickel to be strategically less important. The price of copper remains the main short-term catalyst... UBS adds.


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