Bank of America Securities analyst Jason Fairclough has reiterated their bullish stance on BHPLF stock, giving a Buy rating on April 8.
Jason Fairclough’s rating is based on several positive developments within BHP Group Ltd. The company’s copper production has shown resilience, with a 4% increase compared to Bank of America’s estimates and a 5% rise against Visible Alpha consensus. Despite challenges such as high rainfall affecting metallurgical coal production, BHP’s production guidance remains largely unchanged, with expectations for copper production at Escondida to reach the upper end of its forecast.
Furthermore, BHP is making significant progress in its growth projects, particularly in copper and potash. The company is optimizing operations at Escondida, which is expected to extend production capabilities beyond FY29, and is advancing its Jansen potash project, which is ahead of schedule. These strategic moves, along with a stable valuation and a price objective of 47.00 AUD, support Fairclough’s Buy rating for BHP Group Ltd.
Fairclough covers the Basic Materials sector, focusing on stocks such as Gold Fields, Harmony Gold Mining, and BHP Group Ltd. According to TipRanks, Fairclough has an average return of 8.6% and a 59.38% success rate on recommended stocks.
In another report released on April 8, Goldman Sachs also maintained a Buy rating on the stock with a A$45.10 price target.