Rio Tinto price target lowered to 8,300 GBp from 8,500 GBp at BofA

BofA analyst Jason Fairclough lowered the firm’s price target on Rio Tinto (RIO) to 8,300 GBp from 8,500 GBp and keeps a Buy rating on the shares following “broadly inline” FY25 earnings results and Rio Tinto’s decision not to pursue a merger with Glencore. The firm felt it was “a shame” that Rio didn’t pursue the deal, as it saw a potential combination favorably.