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Forumer storico
11 dicembre 2008
Rio Tinto (GB0007188757)
Merrill Lynch ha alzato il suo rating su Rio Tinto da "Underperform" a "Buy".
http://www.borsainside.com/mercati_europei/dicembre_2008/20081211_blue_chips.shtm
Rio Tinto taglierà 14.000 posti di lavoro
http://www.borsainside.com/mercati_europei/dicembre_2008/20081210_rio_tagli.shtm
Rio Tinto rises as analysts welcome cutbacks
Rob Clifford at Deutsche Bank moved from hold to buy and raised his target price from £17 to £21.50. He said:
December 11, 2008 9:05 AM EST
Shares of Rio Tinto (NYSE: RTP) have been decimated over the past few months, related to the massive commodity contraction and the pulled takeover bid from larger rival BHP (NYSE: BHP), but today Deutsche Bank is getting positive on the name. The firm upgraded the mining company to Buy and raised its price target, following yesterday's announcement from the company that it will hunker down in "cash preservation" mode for the next two years.
Yesterday, Rio Tinto announced plans to reduce debt by $10 billion by the end of 2009 and a reduction in its global headcount by 14,000. Rio Tinto also announced that capital expenditures to be reduced to sustaining levels in 2010, absent an improvement in expected commodity market conditions. Rio Tinto also announced announced that its 2008 dividend will be held at the 2007 level of $1.36, with no $0.20 lift in 2008 and 2009. Rio Tinto also expanded the scope of assets targeted for divestment including significant assets not previously highlighted for sale.
....
http://www.streetinsider.com/Inside...into+(RTP),+Now+Calls+It+A+"Buy"/4231573.html
http://finance.google.co.uk/finance?q=LON:RIO
http://borsaitaliana.it.reuters.com/investing/stocks/quote?symbol=RIO.L
Rio Tinto (GB0007188757)
Merrill Lynch ha alzato il suo rating su Rio Tinto da "Underperform" a "Buy".
http://www.borsainside.com/mercati_europei/dicembre_2008/20081211_blue_chips.shtm
Rio Tinto taglierà 14.000 posti di lavoro
http://www.borsainside.com/mercati_europei/dicembre_2008/20081210_rio_tagli.shtm
Rio Tinto rises as analysts welcome cutbacks
Rob Clifford at Deutsche Bank moved from hold to buy and raised his target price from £17 to £21.50. He said:
"It is pleasing the company finally articulated a plan B some two weeks on from the termination of the BHP Billiton bid. Our first thoughts are that debt providers win whilst equity holders are on hold ahead of a two year cashflow grind.
"'Unprecedented' economic contraction may have been the catalyst for the current predicament, but the root cause harks back almost two years to the debt fueled Alcan acquisition.
"Equity holders may be happy that the company will likely remain a going concern, but disappointed that it will be in no-growth mode, falling behind its peers in key industry segments like iron ore. The sale of core businesses will potentially dilute the overall margin quality and scale as good (read saleable) businesses are divested to make way for the lower margin assets, such as Alcan.
"[Our raised target price] reflects the reduction in balance sheet risk, perceived or otherwise post this announcement. We anticipate that some of the near-term share performance will also reflect tactical factors such as short covering. With the price substantially below our new target, we upgrade the shares to buy."
Merrill Lynch has also issued a buy note, with a £26 target although Royal Bank of Scotland is less sanguine. It has a hold rating with a £15 target and said:"Equity holders may be happy that the company will likely remain a going concern, but disappointed that it will be in no-growth mode, falling behind its peers in key industry segments like iron ore. The sale of core businesses will potentially dilute the overall margin quality and scale as good (read saleable) businesses are divested to make way for the lower margin assets, such as Alcan.
"[Our raised target price] reflects the reduction in balance sheet risk, perceived or otherwise post this announcement. We anticipate that some of the near-term share performance will also reflect tactical factors such as short covering. With the price substantially below our new target, we upgrade the shares to buy."
"We think there is more downside to be priced into our earnings and valuation in the coming months (volume and pricing cuts) and we remain cautious on Rio until it achieves some its debt paydown targets."
Deutsche Bank Now Calls Rio Tinto (RTP) A "Buy"
December 11, 2008 9:05 AM EST
Shares of Rio Tinto (NYSE: RTP) have been decimated over the past few months, related to the massive commodity contraction and the pulled takeover bid from larger rival BHP (NYSE: BHP), but today Deutsche Bank is getting positive on the name. The firm upgraded the mining company to Buy and raised its price target, following yesterday's announcement from the company that it will hunker down in "cash preservation" mode for the next two years.
Yesterday, Rio Tinto announced plans to reduce debt by $10 billion by the end of 2009 and a reduction in its global headcount by 14,000. Rio Tinto also announced that capital expenditures to be reduced to sustaining levels in 2010, absent an improvement in expected commodity market conditions. Rio Tinto also announced announced that its 2008 dividend will be held at the 2007 level of $1.36, with no $0.20 lift in 2008 and 2009. Rio Tinto also expanded the scope of assets targeted for divestment including significant assets not previously highlighted for sale.
....
http://www.streetinsider.com/Inside...into+(RTP),+Now+Calls+It+A+"Buy"/4231573.html
http://finance.google.co.uk/finance?q=LON:RIO
http://borsaitaliana.it.reuters.com/investing/stocks/quote?symbol=RIO.L
