BHP: Jefferies downgrades 'buy' rating.
(CercleFinance.com) - Jefferies has downgraded its rating on BHP from "buy" to "hold" and has lowered its target price on the stock from 1,500 pence to 1,250 pence.
The broker has also cut its numbers for the mining giant, with new estimates now under the consensus - both for 2017 and 2018.
"BHP has world class assets, but we see price risk in iron ore, coking coal and oil & gas," Jefferies explains in a research note.
Earlier today UBS upgraded its rating on BHP from "neutral" to "buy," with its target price maintained at 1,400 pence, after the stock's underperformance relative to Rio Tinto.
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.
The broker has also cut its numbers for the mining giant, with new estimates now under the consensus - both for 2017 and 2018.
"BHP has world class assets, but we see price risk in iron ore, coking coal and oil & gas," Jefferies explains in a research note.
Earlier today UBS upgraded its rating on BHP from "neutral" to "buy," with its target price maintained at 1,400 pence, after the stock's underperformance relative to Rio Tinto.
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.