Broker snap: Goldman bullish on metals
Mon 03 Sep 2007
sharecast.com
LONDON (SHARECAST) - A Goldman Sachs upgrade to ‘buy’ from ‘neutral’ helped miner Lonmin improve Monday, aided by a price target hike to 4,120p from 3,945p.
The decision comes as the broker beefed up its forecasts for commodity prices in 2008 as the mining industry struggles to keep up with demand.
Goldman has also added Xstrata to its Conviction Buy List due to its exposure to rising copper and zinc prices and raised its target to 3,840p, although BHP Billiton is removed from the list but stays a ‘buy’ with target up to 1,715p.
Elsewhere, Vedanta is rated ‘neutral’ with target price lifted to 1,945p from 1,650p, while Rio Tinto, also ‘neutral’, is cut to 3,880p from 4,090p. |
