0409 GMT - The strategy of Rio Tinto's new CEO "is evolutionary, not revolutionary," according to UBS analysts. In a note, they highlight the miner's plans to improve Ebitda by raising volumes and reducing costs. They say 2026 guidance is broadly as expected and don't expect a material change to earnings forecasts. The analysts reiterate a neutral rating on the stock. "In our opinion, the risk-reward for Rio is improving, with commodity prices supportive and operational performance improving." UBS raises its target to A$138 from A$130. Rio is down 1.5% in Sydney at A$138.45. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
December 04, 2025 23:10 ET (04:10 GMT)
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