Economy
Barclays adjusts miners ratings |
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| Economy | |
| Written by Paul Williams | |
| Friday, 26 June 2009 | |
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Anglo gets upgrade while BHP losses out.
Brokers at Barclays (LON:BARC) have revised some of their ratings for the mining industry. Anglo American has enjoyed a great deal of publicity this week over the attention it has received from Xstrata (LON:XTA). The possibility of a merger with Xstrata has prompted Barclays to envisage Anglo shares reaching 2300p reports Sharecast. "Barclays believes either Xstrata will abandon its “merger of equals” stance and up its offer, or a white knight will emerge. Failing that, the merger approach will at least act as a kick up the backside to the Anglo management," reads a Sharecast report. BHP Billiton (LON:BLT) has however been rated as being overweight. BHP still has defensive properties and “one of the best [management teams] in the business” but Barclays believes that the premium investors are being asked to pay for these qualities is no longer appropriate in an environment where appetite for risk is returning.
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