Analysts are tipping Rio Tinto Limited
(ASX:RIO) will hit a net profit of more than $US8 billion dollars when it tomorrow reveals its half year result.
Stronger commodity prices have been attributed for the expected 39 per cent jump in underlying earnings.
Analysts have told the Australian Associated Press that iron ore could contribute to almost 80 per cent of Rio’s net profit.
UBS Investment Research maintains a share price target of $114 per Rio share, which compares to Rio’s last closing price of $80.05 cents.
In the 2010 financial year Rio Tinto reported a net profit of $14.9 billion.
