Broker snap: Goldman bullish on metals sector
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Goldman Sachs has upgraded the India-focused copper miner Vedanta Resources to 'buy' from 'neutral', raising its price target to 2,630p from 2,340p, in a bullish sector review of the Indian metals and mining sector.
Tight metals markets and rising base metal and iron ore prices should result in record cash flows in 2008, Goldman said.
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It also moved Anglo American to its 'Conviction Buy' list, saying that the company has been overlooked by investors due to not being involved in recent M&A speculation.
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