BHP: UBS drops buy rating
(CercleFinance.com) - UBS has downgraded its rating on BHP Group shares from "buy" to "neutral," having its corresponding target price from 2,200 pence to 2,000 pence, representing downside potential of 4% for the Anglo-Australian mining company's stock.
"BHP is generating & returning lots of cash to shareholders but this hinges on iron ore," the broker says, warning that risks to iron ore prices "are buidling with Brazilian supply now positively surprising..."
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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.
"BHP is generating & returning lots of cash to shareholders but this hinges on iron ore," the broker says, warning that risks to iron ore prices "are buidling with Brazilian supply now positively surprising..."
Copyright (c) 2021 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.