Analysts at Deutsche Bank left their recommendation for shares of BHP at ‘hold’ following the miner’s latest interims, pointing to the shares’ recent run higher to justify their decision.
They argued that BHP’s share price gains had left the valuation full with the stock now trading at a “sizeable” premium relative to its peers.
Nevertheless, they judged the business to be in “strong” shape.
Indeed, with its debt pile shrinking, the analysts were expecting another “large” dividend, possibly alongside a share buyback, would be announced in six months’ time.
Their target price for the shares was also unchanged, at 2,100.0p.
