MARKET TALK: Credit Suisse Cuts Anglo American To Neutral

19th Jul 2010 08:12

0712 GMT [Dow Jones] Credit Suisse downgrades Anglo American (AAL.LN) to neutral from outperform, after the stock outperformed peers since August '09. CS cuts the price target to 3000p from 3600p and the stock is removed from the brokerage's focus list. CS says the restructuring/growth story is priced-in. Heading into the interim results on July 30, CS is concerned over potential negative catalysts, primarily from the Minas Rio project. It warns that further bad news on that issue would deal a blow to management, making delivery in other areas an imperative. Shares -0.9% at 2317p.([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 19, 2010 03:12 ET (07:12 GMT)