LONDON (SHARECAST) - Recent falls in the share price of Kazakhmys prompted HSBC to upgrade the Kazakhstan-focussed miner to ‘overweight’ from ‘neutral’.
However, while the broker said the share price was now good value, it cut its price target on the stock to 1,550p from 1,700p.
Elsewhere in the mining sector, JP Morgan has maintained its ‘neutral’ rating on Anglo American. While the company was continuing to spread its risk away from South Africa and Platinum by buying Brazilian iron ore assets, it remained a very expensive stock, JPM said.
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