Anglo American upped to overweight at Morgan Stanley

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Anglo American was upgraded to overweight from equal-weight by Morgan Stanley, which also lifted its price target to 2280 pence from 1900 pence. “Anglo American’s earnings power is more resilient than peers, less dependent on iron ore and underpinned by an accelerating diamond recovery. This, together with a superior volume growth profile, should support a multiple re-rating into 2021,” said analysts led by Ioannis Masvoulas. The stock rose 3.8% to 1984 pence.
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