BHP Billiton: UBS upgrades rating.
(CercleFinance.com) - UBS has upgraded its rating on BHP Billiton from "neutral" to "buy," with its target price left at 1,400 pence, after the stock's 10% fall y-t-d and its 11% underperformance relative to Rio Tinto.
While BHP has suffered operational issues in H2 2016-17 and although near-term momentum in China is negative, the broker still expects BHP to report robust H2 earnings of 5.0 billion euros, with a dividend of 56 cents per share.
UBS now sees modest downside to BHP's key commodities, but expects BHP to improve operationally over the next 12 months, with key projects ramping up.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
While BHP has suffered operational issues in H2 2016-17 and although near-term momentum in China is negative, the broker still expects BHP to report robust H2 earnings of 5.0 billion euros, with a dividend of 56 cents per share.
UBS now sees modest downside to BHP's key commodities, but expects BHP to improve operationally over the next 12 months, with key projects ramping up.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.