Rio Tinto: Valuation Now Full As Merger Noise With Glencore Clouds The Standalone Case (Rating Downgrade) [Seeking Alpha]
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
Company Research
Source: Seeking Alpha
complexity, coal exposure mismatches, regulatory scrutiny, and execution risk limit near-term visibility. Operating performance remains solid, and EBITDA is supported by firmer iron ore and copper prices, yet the share price now trades around ~15% above our fair value, reducing upside. With much of the standalone upside already priced in and increased uncertainty from M&A speculation, we adopt a wait-and-see stance on RIO despite long-term copper optionality. imv/E+ via Getty Images In our recent note, we downgraded Glencore to Neutral. We take this momentum to revisit Rio Tinto ( RIO RTPPF RTNTF ), reflecting the close linkage and growing correlation between the two companies. Taking advantage of This article was written by Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am
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