Barclays has adjusted its outlook on the multinational mining corporation Rio Tinto, reducing the price target for its shares. Analyst Amos Fletcher has decreased the target price from 6,150 GBp to 5,300 GBp. Despite this downward revision, the firm maintains an Overweight rating on the stock (RIO, Financial).
This updated evaluation reflects ongoing assessments of the company's market performance and future prospects. The continued Overweight rating suggests that Barclays sees potential for the stock to outperform other investments in the sector despite the revised target.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for Rio Tinto PLC (RIO, Financial) is $80.43 with a high estimate of $96.00 and a low estimate of $72.13. The average target implies an upside of 40.90% from the current price of $57.08. More detailed estimate data can be found on the Rio Tinto PLC (RIO) Forecast page.
Based on the consensus recommendation from 7 brokerage firms, Rio Tinto PLC's (RIO, Financial) average brokerage recommendation is currently 1.4, indicating "Buy" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Rio Tinto PLC (RIO, Financial) in one year is $61.38, suggesting a upside of 7.53% from the current price of $57.08. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Rio Tinto PLC (RIO) Summary page.
