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BHP Group upgraded to Buy from Neutral at Goldman Sachs
The Fly

BHP Group upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs upgraded BHP Group (BHP) to Buy from Neutral with a A$49.90 price target. The analyst sees an attractive valuation after the recent 15% drop in the stock price since January. The firm cites valuation for the upgrade but continues to prefer Rio Tinto (RIO) over BHP, saying Rio has a stronger balance sheet, similar EBITDA exposure to iron ore and base metals, and better medium term production growth and free cash flow.

Published first on TheFly

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