Berenberg Bank Forecasts Strong Price Appreciation for BHP Group (LON:BHP) Stock

Key Points

• Berenberg Bank has raised its price target for BHP Group's stock from GBX 1,700 to GBX 1,900, indicating a potential downside of 9% from the previous close, while maintaining a "sell" rating.
• The consensus rating for BHP Group among analysts is "Reduce" with an average target price of GBX 1,986.67, with recent ratings including a hold from Deutsche Bank and a neutral stance from JPMorgan Chase.
• BHP Group's stock recently traded at GBX 2,088, with a significant market capitalization of £106.03 billion, reflecting its position in the global resources market.

BHP Group (LON:BHP - Get Free Report) had its price target upped by equities researchers at Berenberg Bank from GBX 1,700 to GBX 1,900 in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a "sell" rating on the stock. Berenberg Bank's price target points to a potential downside of 9.00% from the stock's previous close.

A number of other analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a GBX 1,900 price objective on shares of BHP Group in a research report on Monday, July 21st. JPMorgan Chase & Co. boosted their price objective on BHP Group from GBX 2,130 to GBX 2,160 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of GBX 1,986.67.

BHP Group Stock Performance

BHP stock traded up GBX 10 during trading on Wednesday, hitting GBX 2,088. 3,477,757 shares of the company traded hands, compared to its average volume of 1,488,378. The company has a market cap of £106.03 billion, a PE ratio of 1,177.00, a P/E/G ratio of -0.78 and a beta of 0.84. BHP Group has a 1 year low of GBX 1,559.50 and a 1 year high of GBX 2,280. The stock's 50-day simple moving average is GBX 2,002.19 and its 200 day simple moving average is GBX 1,884.83. The company has a debt-to-equity ratio of 45.03, a current ratio of 1.70 and a quick ratio of 1.37.

BHP Group Company Profile

We are a world-leading resources company, focused on the resources the world needs to grow and decarbonise. Copper for renewable energy. Potash for sustainable farming. Iron ore and metallurgical coal for the steel needed for global infrastructure and the energy transition. A resources mix for today and for the future. Our strategy is to deliver long-term value and returns through the cycle.

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