Deutsche Bank lifts Anglo American target price
Anglo American
2,479.00p
17:15 07/11/24
3.64%
87.00p
Deutsche Bank upped its price target on Anglo American to 2,500p from 2,200p on Friday, keeping the rating at ‘buy’.
FTSE 100
8,140.74
17:09 07/11/24
n/a
n/a
FTSE 350
4,495.56
17:10 07/11/24
n/a
n/a
FTSE All-Share
4,453.48
16:30 07/11/24
n/a
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Mining
11,474.12
17:04 07/11/24
-0.16%
-18.76
The bank said that following a heavily disrupted first half, Anglo is well positioned with near-term catalysts and medium-term structural drivers.
"The share price pull back from the January highs is an opportunity to buy a company with a deeply undervalued growth pipeline and leading climate strategy," it said.
DB lifted its estimates for the mining company, leaving it more than 15% ahead of consensus.
At 1550 BST, Anglo shares were up 4% to 1,839.40p.