MARKET TALK: UBS Cuts Anglo American Price Target

14th Jul 2010 09:31

0831 GMT [Dow Jones] UBS cuts Anglo American (AAL.LN) target to 3050p from 3150p as it lowers its estimates for '10 to incorporated actual commodity prices for 2Q '10. Says this has a negative impact on earnings for 1H'10. Cuts '10 EPS estimate by 8% to 403 cents and '11 EPS estimate by 2% to 585 cents. UBS also notes it has lowered its estimate for Anglo's Brazilian iron ore asset Amapa. Keeps at buy. Shares +0.5% at 2427p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 14, 2010 04:31 ET (08:31 GMT)

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