Market Overview

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

Share:
Related RIO
Rio Tinto Shares Rally Following Morgan Stanley's Upgrade To Overweight
The Market In 5 Minutes: Stocks Start To Recover From Brexit Onslaught
Top June Global Dogs Are Industrial, Energy, Basic Materials, & Consumer Cyclical (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
Jun 2016Morgan StanleyUpgradesEqual-weightOverweight
Jun 2016Goldman SachsUpgradesSellNeutral
Jun 2016CitigroupUpgradesSellNeutral

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!