1257 GMT - Anglo American shares have room to rise given the proposed merger with Teck Resources, Citi analysts write. The combined entity's copper exposure--80% of earnings--is underappreciated by the market but could lead to a rerating of the shares, they say. The stock will also benefit from an operational recovery at key assets--like at Collahuasi in Chile--and organic growth options, the analysts write. Citi raises its target price for the stock to 45 pounds from 33 pounds and upgrades its rating to buy from neutral. Shares trade up 1.6% at 34.61 pounds. They are up nearly 50% over the past year. (adam.whittaker@wsj.com)

(END) Dow Jones Newswires

February 02, 2026 07:58 ET (12:58 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.