Rio Tinto Included In Tactical Ideas List At Morgan Stanley

on Wednesday morning was included in Morgan Stanley's tactical idea list. Morgan Stanley anticipates Rio Tinto's share price to rise relative to the industry over the next 15 days. The Morgan Stanley note states, “We think working capital releases, combined with good cost control and limited discounts to Index prices in iron ore plus inflows from disposals will show substantial de-levering of the balance sheet with net debt down to $16.1bn versus $18.2bn at year-end 2013. We estimate that there is about a 70% to 80% or "very likely" probability for the scenario.” Shares of Rio Tinto recently traded at $58.21, down 1.15 percent.