ANGLO AMERICAN (AAUKY $8.91, rated NEUTRAL and price target reduced to $10/share from $12/share) LOWER COAL, IRON ORE, GOLD, and PLATINUM PRICES DRIVE EARNINGS ESTIMATES AND VALUATION DOWN PARTLY OFFSET BY LOWER CAPITAL EX 12/15/2014

ANGLO AMERICAN (AAUKY $8.91, rated NEUTRAL and price target reduced to
$10/share from $12/share) LOWER COAL, IRON ORE, GOLD, and PLATINUM
PRICES DRIVE EARNINGS ESTIMATES AND VALUATION DOWN PARTLY
OFFSET BY LOWER CAPITAL EX 12/15/2014