Credit Suisse bumps up target price for BHP, but stays at 'neutral'
By Alexander Bueso
Date: Wednesday 17 Aug 2022
(Sharecast News) - Credit Suisse analysts reiterated their 'neutral' recommendation for shares of BHP Group following what they described as a "solid" set of results out of the mining group.
Hence, they raised their target price for the shares from 2,200.0p to 2,300.0p.
However, they questioned the outfit's decision to appoint Barrenjoey to advise on its bid for OZ Minerals, despite assurances to the contrary during the previous year, after BHP's chairman took a potentially conflicting role.
"The reversal of the board's governance position raises questions," the board said.
On the company's plans for raising output from WAIO, the group said it could add 170p per share to the company's net present value, although iron ore pricing downside existed.
They also saw upside risks to their estimates for BHP's capital expenditure plans.
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