Dahlman Rose Reiterates Rio Tinto Buy, $127 PT

Dahlman Rose reiterated its Rio Tinto (NYSE: RIO) Buy rating and $127 price target in a research report published today.

In the report, Dahlman Rose states, "Overall, although the company's 2Q11 production was below our estimates in several areas, it produced 5% more iron ore than we anticipated, which carries the most impact, as the company's EBITDA is over 70% attributable to iron ore."

Shares of Rio Tinto were trading at $70.65 at the time of posting, down 0.08% from Wednesday's market close.