Major Bank Ratings | Bank of America: Downgrades Rio Tinto and BHP to "Neutral", citing high valuations
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Glonghui, May 25th｜Bank of America has downgraded Rio Tinto and BHP from “Buy” to “Neutral,” citing high valuations and rising macro risks due to intensified Middle East conflicts. The target prices are maintained at 69 Australian dollars per share and 9,300 pence per share, respectively, noting that the current risk-reward ratio is no longer sufficient to support a bullish view.
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