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Morgan Stanley analysts have upped their target price for the natural resources company from 2050p to 2200p and kept their “overweight” rating. “It ranks well versus diversified mining and oil peers,” the analysts said.
Deutsche Bank has upgraded its target price on the newly merged company from 400p to 465p and held its “buy” rating on the stock. Its analysts said forthcoming results on 17 December will show strong underlying earnings at the company.