BHP Group price target raised to $68 from $65 at Argus

Argus raised the firm’s price target on BHP Group to $68 from $65 and keeps a Buy rating on the shares. The company’s performance is linked to trends in iron ore, copper and coal, and the price of these commodities should rise as the Chinese economy recovers, the analyst tells investors in a research note, adding that the long-term outlook for copper is particularly bright given that it is a key component in vehicle electrification. BHP’s balance sheet is also solid and the dividend yield of about 5% is attractive, the firm added.