BHP Group price target lowered to $48 from $49.50 at Bernstein

Bernstein analyst Bob Brackett lowered the firm’s price target on BHP Group (BHP) to $48 from $49.50 and keeps a Market Perform rating on the shares. Commodity selection is arguably the most important factor driving returns in metals and mining land, the firm says. Bernstein believes that valuation is a close second. The firm is refreshing its Mining Valuation Book and updating its valuation tools to assess ten stocks within its coverage universe, along with their peers.