Morgan Stanley downgraded IGO Limited (IPGDF) to Underweight from Equal Weight with a price target of A$4.10, up from A$3.50. The stock offers diversified exposure to clean energy metals and there is value in this theme, though it is also accounted for in the current valuation, the analyst tells investors in a research note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IPGDF:
- IGO Withdraws from Fraser Range Joint Venture; Carawine Awaits Court Decision on QGold Acquisition
- IGO Limited Announces Issuance of New Securities
- IGO Limited Announces Cessation of Securities
- IGO Limited Announces Strategic Board Restructuring
- Vanguard Group Acquires Substantial Stake in IGO Limited