Anglo American plc expected to struggle with asset sales
(MENAFN- ProactiveInvestors - UK) Jamie Ashcroft Follow !function(dsid){var jsfjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(jsfjs);}}(document"script""twitter-wjs"); 09:31
Anglo American plc (LON:AAL) has been cut to 'sell' from 'neutral' by UBS because the Swiss bank believes it will struggle to sell coal nickel and iron ore assets at sufficiently attractive prices.
Analyst Myles Allsop also highlights that the mining share has performed too well recently.
'The stock is up 137% from the low in mid-Jan outperforming the sector by around 85%' he said in a note.
'We believe the outlook for Anglo's key commodity prices has not improved materially and the execution risk with the proposed restructuring remains high.'
Morgan Stanley meanwhile downgraded London's largest gold stock Randgold Resources (LON:RRS) to 'equal weight' from 'overweight'
South American oil explorer Amerisur Resources (LON:AMER) is downgraded to 'underperform' from 'neutral' by Macquarie.
Barclays (LON:BARC) has been downgraded by both Deutsche Bank and JP Morgan with prices targets lowering to 180p and 230p from 255p and 250p respectively.
Nomura moved its target for HSBC (LON:HSBA) to 475p from 555p.
Hunting Plc (LON:HTG) the services group for the oil industry was downgraded by Liberum Capital to a 'sell' from 'hold'.
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