Rio Tinto's Share Price Expected to Increase in the Next 60 Days
<p>Morgan Stanley analysts reaffirmed an Overweight rating for <a href='https://financialmodelingprep.com/financial-summary/RIO'>Rio Tinto (NYSE:RIO)</a>. The bank's assessment suggests that Rio Tinto's share price is poised to increase over the next 60 days.</p>
<p>The analysts anticipate that Rio Tinto will benefit from higher projected prices for iron ore and copper, given its significant revenue exposure to these commodities (estimated 55% for iron ore and 12% for copper in 2023). </p>
<p>The analysts believe there is a potential for the stock's valuation to rise closer to their price target of A$135 per share, with an estimated 60% to 70% probability of this scenario occurring.</p>

NYSE:RIO