Market Overview

UPDATE: Morgan Stanley Downgrades Rio Tinto Plc to Equal-Weight on Risk/Reward

Share:
Related RIO
Axiom: Stay Away From Mining Stocks
What Slower Near-Term Growth In China Has To Do With Steel Overcapacity
Iron Ore Could See Further Losses (Seeking Alpha)

Morgan Stanley downgraded Rio Tinto Plc (NYSE: RIO) from Overweight to Equal-weight.

Morgan Stanley noted, "Rio's risk-reward ratio no longer looks attractive enough after: 1) a 33% rise in the iron ore price since December; 2) a much lower earnings impact from cost efficiency programs than headline figures suggest; 3) limited tangible changes from its sharpened focus on capital efficiency."

Rio Tinto Plc closed at $55.03 on Wednesday.

Latest Ratings for RIO

DateFirmActionFromTo
Apr 2016CitigroupDowngradesNeutralSell
Apr 2016CLSADowngradesOutperformUnderperform
Mar 2016AxiomDowngradesNeutralSell

View More Analyst Ratings for RIO
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (RIO)

View Comments and Join the Discussion!