UBS has cut the miner from “buy” to “neutral”, and reduced its target price from 2150p to 1860p, with “heightened South Africa risk” one of the causes for a downgrade.
Supermarket Morrisons was downgraded by Deutsche Bank to “hold”, with a target price cut to 258p from 320p, causing the firm to close 0.6 per cent down on Friday.
ROYAL DUTCH SHELL
Credit Suisse upgraded oil major Shell to “outperform”, raising its target price from 2,400p to 2,525p. The bank praised its safe dividend yield and cash flow.