Earlier this week JPMorgan Cazenove analyst pulled a u-turn on the mining sector going from underweight to overweight

Earlier this week JPMorgan Cazenove analyst pulled a u-turn on the mining sector going from underweight to overweight. What's our view? We have been looking for a recovery in the resources sector for the last few months not least because laggards often engage in a powerful catch-up play in the mature stages of a cyclical bull market. Following the valuation expansion that accompanied last year's powerful rally, value investors have been looking for reasonably cheap sectors in which to invest. The mining sector has become more alluring in this regard following deep write downs and a newfound respect for free cash flow. (VIEW LINK)