Anglo American: share price soars, broker calls for buy
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 a potential upside of 35%.
' We are Buy on Anglo as we are bullish on copper; PGM fundamentals are starting to look pretty compelling (and provide a good hedge against iron ore weakness)... ' says UBS.
' 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... says UBS.
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