CLSA upgraded BHP Group (BHP) to Outperform from Underperform with an unchanged price target of A$46.50 after Teck Resources (TECK) rejected an unsolicited bid from Glencore (GLNCY). Glencore’s move "puts Teck in play" and brings up the question of whether BHP should "enter the fray," said the firm, which adds that it has "long considered Teck’s base metal assets complimentary to BHP’s portfolio."
Published first on TheFly
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