BHP: Jefferies downgrades stock

(CercleFinance.com) - Jefferies downgrades its recommendation on BHP from 'buy' to 'hold', with a target price lowered by 9% to 2,550 pence, considering the Anglo-Australian mining company's strong recent share performance.


The broker also cites a risk of BHP making a new bid for Anglo American after the end of the six-month restriction period at the end of November, and a risk of higher capital expenditure in the medium term.

At sector level, Jefferies has adjusted its commodity prices to reflect third-quarter actuals and made minor changes to its price forecasts to reflect recent developments.


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