JPM analysts stay bullish on Rio Tinto in wake of collapsed Glencore merger talks
Analysts at JPMorgan have resumed coverage of Rio Tinto Ltd at 'Overweight' with a £75.00 price target, signalling confidence in the mining giant's strategic positioning even as merger talks with Glencore PLC collapse. The note, a day after Rio Tinto confirmed it is no longer pursuing a...
Rio Tinto Ltd(LSE:RIOASX:RIOOTC:RTNTF) View Price & Profile JPM analysts stay bullish on Rio Tinto in wake of collapsed Glencore merger talks
Published: 08:21 06 Feb 2026 EST
Analysts at JPMorgan have resumed coverage of Rio Tinto Ltd at 'Overweight' with a £75.00 price target, signalling confidence in the mining giant's strategic positioning even as merger talks with Glencore PLC collapse.
The note, a day after Rio Tinto confirmed it is no longer pursuing a merger or business combination with its rival, also saw the American investment bank's UK analyst bring Glencore back under coverage, with a 'neutral' rating and a £4.90 price target.
JP analyst Dominic O'Kane argues that the termination of negotiations actually "reinforces our core thesis that global miners will embrace proactive strategic change in 2026 (and portfolio change) to reposition for future opportunities in copper, gold, lithium and new frontiers, and to drive shareholder value creation."
The broker's call comes against a backdrop it described as a critical minerals paradigm shift, "with minerals and mining moving towards the center of national security strategies."
The bank more broadly retains a positive outlook on European Metals & Mining equities, arguing "the sector's ROCE, ROE and economic value add is underappreciated and overlooked."