MARKET TALK: Morgan Stanley Adjusts Targets On UK Miners

23rd Jun 2010 09:45

0845 GMT [Dow Jones] Morgan Stanley adjusts target prices on UK miners, following new quarterly commodity forecasts. "Although the order of magnitude of the earnings changes is lower than in previous quarters, we focus investors' attention on the relatively undemanding valuations." Raises African Barrick Gold (ABG.LN) price target to 733p from 678p, Anglo American (AAL.LN) target to 3373p from 3274p, Ferrexpo (FXPO.LN) to 408p from 406p, and New World Resources (NWR.LN) to 844p from 839p. Has the first three stocks at overweight, and New World Resources at equalweight. Morgan Stanley cuts Antofagasta (ANTO.LN) target price to 1019p from 1042p, Aquarius Platinum (AQP.AU) to 493p from 497p, Kazakhmys (KAZ.LN) target to 1768p from 1807p, and Lonmin (LMI.LN) target to 2047p from 2065p. Also cuts Vedanta Resources (VED.LN) price target to 4238p from 4272p, and Xstrata (XTA.LN) to 1571p from 1581p. Has all stocks at overweight, apart from Antofagasta at underweight and Lonmin at equalweight. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 23, 2010 04:45 ET (08:45 GMT)