Rio Tinto: Oddo BHF maintains an 'outperform' rating on the stock

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Rio Tinto shares, with an unchanged target price of 6800 pence.


The analyst reports a Bloomberg report that Rio Tinto and Glencore have held preliminary discussions on a tie-up, citing 'people familiar with the matter'.

Considered 'stillborn' and 'unconvincing', this deal seems 'of limited interest' and based essentially on copper, argues Oddo BHF.

The broker believes that this deal would also result in the creation of 'arguably the most complex commodities portfolio of any mining company'.

' The risk of overpaying would also be significant, with a possible battle with BHP in prospect, the latter also seeking to strengthen its positions in copper and having a solid financial strike force', it concludes.

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