JPMorgan Chase & Co. Forecasts Strong Price Appreciation for BHP Group (LON:BHP) Stock

Key Points

• JPMorgan Chase & Co. has raised the price target for BHP Group from GBX 2,130 to GBX 2,160, indicating a potential upside of 8.95% from its current price.
• BHP Group currently holds a "neutral" rating from JPMorgan, while other analysts maintain a mixed outlook, with some rating it as a "hold" and one as a "sell".
• The company's shares opened at GBX 1,982.50 and have a 1-year price range between GBX 1,559.50 and GBX 2,382.

BHP Group (LON:BHP - Get Free Report) had its target price boosted by equities researchers at JPMorgan Chase & Co. from GBX 2,130 to GBX 2,160 in a report released on Wednesday, Marketbeat reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 5.01% from the stock's current price.

A number of other equities analysts have also weighed in on BHP. Berenberg Bank lowered BHP Group from a "hold" rating to a "sell" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a GBX 1,900 target price on shares of BHP Group in a research report on Monday, July 21st. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, BHP Group has an average rating of "Reduce" and an average target price of GBX 1,920.

BHP Group Trading Up 2.4%

BHP traded up GBX 49 during trading on Wednesday, hitting GBX 2,057. The company's stock had a trading volume of 1,106,350 shares, compared to its average volume of 1,336,574. BHP Group has a twelve month low of GBX 1,559.50 and a twelve month high of GBX 2,382. The company has a quick ratio of 1.37, a current ratio of 1.70 and a debt-to-equity ratio of 45.03. The stock's fifty day moving average price is GBX 1,890.31 and its 200-day moving average price is GBX 1,876.66. The firm has a market capitalization of £131.31 billion, a P/E ratio of 16.65, a PEG ratio of -0.78 and a beta of 0.84.

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.