Market Overview

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

Share:
Related RIO
19 Stocks Moving In Wednesday's Pre-Market Session
Wall Street's M&A Chatter From March 30: Digital Ally, Rio Tinto-Alcoa, NextEra

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
Dec 2016Credit SuisseUpgradesNeutralOutperform
Dec 2016CitigroupUpgradesSellNeutral
Dec 2016ArgusMaintainsBuy

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!