BHP Billiton (BHP) PT Raised to $68 at Argus

Argus analyst David Coleman raised the price target on BHP Billiton (NYSE: BHP) to $68.00 while maintaining a Buy rating.

The analyst comments "Our rating on BHP Group Ltd. (NYSE: BHP), a leading international mining company, is BUY. We believe that BHP's long-term fundamentals remain strong, and expect the company to benefit from global economic growth. The company's results are linked to trends in iron ore, copper and coal. Though prices in these commodities are mixed year over year, we expect them to rise in coming quarters as global economic growth resumes. In particular, the long-term outlook for copper is relatively bright, given that it is a key component in vehicle electrification. BHP's balance sheet is solid and the dividend yield of about 5% is attractive. Our target price is now $68. BHP shares are listed on the New York Stock Exchange in the form of American Depositary Receipts (ADRs), each of which represents two ordinary shares."

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