0105 GMT - While Rio Tinto is pursuing rising productivity gains, its target of US$1.8 billion in annualized cost savings by the end of 2026 includes "volume benefits largely already in consensus," says Morgan Stanley analyst Rahul Anand. He says the miner's 1H profit and cash flow beats appear to be largely driven by lower taxes and higher contributions from joint-venture partners. MS has an underweight rating and target price of 147.50 Australian dollars on Rio. The stock is up 4.6% in Sydney at A$166.89.