MARKET TALK: UBS Cuts Anglo American Price Target

18th Jun 2010 07:49

0649 GMT [Dow Jones] UBS cuts Anglo American (AAL.LN) price target to 3150p from 3250p. Says it has lowered its realized coal price forecasts for Anglo's South African coal assets, given the lag between spot and realized prices. Also says it had been too optimistic on copper earnings, and lowers copper volumes for '10. UBS raises its copper cash costs based on diesel and labor cost pressure and removes the zinc assets from 2H'10. Shares closed Thursday at 2673p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 18, 2010 02:49 ET (06:49 GMT)

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