0447 GMT - Anglo American is shifting from being a restructuring story to being a cash flow one, says Citi analyst Ephrem Ravi in a note. He sees the miner tying up loose ends in reshaping its portfolio over the next six months. Ravi's remarks follow the spinoff of Anglo's platinum business. A sale or spinoff of its diamond business remains the most challenging part of its restructuring, says Ravi. However, market expectations for that are also low, both on value and timing, he says. Anglo "is on track to be a play on copper and iron ore by end of 2025," says Ravi. Citi raises its target on the stock to GBP22.00 from GBP20.60. It keeps a neutral rating. Anglo ended Wednesday at GBP22.335. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
June 05, 2025 00:47 ET (04:47 GMT)
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