Deutsche Bank lifts Anglo American target price
Anglo American
2,498.00p
11:45 25/04/24
13.29%
293.00p
Deutsche Bank upped its price target on Anglo American to 2,500p from 2,200p on Friday, keeping the rating at ‘buy’.
FTSE 100
8,093.83
11:45 25/04/24
n/a
n/a
FTSE 350
4,444.33
11:45 25/04/24
n/a
n/a
FTSE All-Share
4,397.96
11:45 25/04/24
n/a
n/a
Mining
10,394.15
11:45 25/04/24
-1.20%
-126.12
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.