BHP: Jefferies upgrades stock
(CercleFinance.com) - Jefferies has upgraded its recommendation on the BHP share from "hold" to "buy," having raised its corresponding target price from 1750 pence to 2200 pence, highlighting the mix of commodities, valuation and a dividend yield of over 5%.
According to the broker, the Anglo-Australian group's planned exit from thermal coal and BMC "should eventually help," while "We are in the midst of a cyclical upturn in mining".
"BHP is likely to benefit from significant consensus earnings upgrades and is now one of our top picks in global mining," Jefferies says.
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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.
According to the broker, the Anglo-Australian group's planned exit from thermal coal and BMC "should eventually help," while "We are in the midst of a cyclical upturn in mining".
"BHP is likely to benefit from significant consensus earnings upgrades and is now one of our top picks in global mining," Jefferies says.
Copyright (c) 2020 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.