Morgan Stanley analyst Rahul Anand upgraded BHP Group to Overweight from Equal Weight with a price target of 2,429 GBp, up from 2,300 GBp. While China risks remain, Australia stocks have corrected, with potential gains into peak season, the analyst tells investors in a research note. The firm cites the BHP’s recent share underperformance for the upgrade. The company’s risks around growth and capex are now well appreciated, with a Samarco resolution likely, contends Morgan Stanley.
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