Broker snap: Aquarius cut on valuation
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Swiss broker UBS has downgraded its rating on Aquarius Platinum to 'neutral' from 'buy' on valuation grounds.
It noted the southern Africa-focused miner's share price has risen by 40% in the past year, compared with a flat performance from fellow platinum specialist Lonmin.
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While acknowledging that Aquarius has performed well over the period, UBS says this is now largely priced in to the company's valuation.
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