BHP Group downgraded to Sell from Neutral at UBS

UBS analyst Myles Allsop downgraded BHP Group to Sell from Neutral with a price target of 2,300 GBp, up from 2,100 GBp. The macro backdrop for commodities and miners improved in November when China started to ease Covid restrictions and also announced a meaningful property stimulus, which drove an "aggressive" response in the stock price, the analyst tells investors in a research note. After moving up 36% since October-end however, the stock price has "moved too far, too fast", Allsop adds.