BHP Group noted a slightly soft but mostly expected December quarter with numbers down on planned maintenance and tie-in work across the group. Marking to markets for December quarter commodity prices causes Credit Suisse to lift its FY21 earnings 3%.
All major catalysts except for commodity prices remain unchanged and the broker retains its $40 target. Outperform.
Sector: Materials.
Target price is $40.00.Current Price is $46.30. Difference: ($6.30) – (brackets indicate current price is over target). If BHP meets the Credit Suisse target it will return approximately -16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
