BHP: Jefferies still a buyer after results
(CercleFinance.com) - Jefferies reiterates its "buy" recommendation on BHP shares, along with its target price of 2,800 pence, after the Anglo-Australian mining group published results deemed largely in line with expectations.
EBITDA and net debt were slightly better than consensus, while the dividend met expectations, the broker says, which mentions unit cost forecasts for FY 2025 that are also in line with expectations.
BHP is taking steps to increase its copper volumes (via M&A and organically), and should benefit from strong cash flows in iron ore, even in a lower price environment, it adds.
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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.
EBITDA and net debt were slightly better than consensus, while the dividend met expectations, the broker says, which mentions unit cost forecasts for FY 2025 that are also in line with expectations.
BHP is taking steps to increase its copper volumes (via M&A and organically), and should benefit from strong cash flows in iron ore, even in a lower price environment, it adds.
Copyright (c) 2024 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.