Nomura Securities Maintains a 'Buy' on BHP Billiton (BHP); Clarity Around Growth
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Price: $57.99 -0.72%
Rating Summary:
10 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
10 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Nomura Securities maintains a 'Buy' on BHP Billiton (NYSE: BHP).
Analyst, David Radclyffe, said, "FY12 was in line, FY13 NPAT lowered 4%, yet spot downside as steel materials drag, offsetting positive oil and copper prices. Management is keeping to the message of cost control, selective growth and a focus on the balance sheet. This has been backed up with additional clarity around current growth plans including the deferral of Olympic Dam. Further, no new projects are expected to be approved in FY13, in part, as capex of US$22bn will be funded by some additional debt. In the current market, BHP is focused on pushing hard on costs in FY13 and expects some advantage from increasing production. We maintain a Buy rating and A$40.00 target price, as we regard the diversified structure as an advantage under current market conditions."
For an analyst ratings summary and ratings history on BHP Billiton click here. For more ratings news on BHP Billiton click here.
Shares of BHP Billiton closed at $69.70 yesterday.
Analyst, David Radclyffe, said, "FY12 was in line, FY13 NPAT lowered 4%, yet spot downside as steel materials drag, offsetting positive oil and copper prices. Management is keeping to the message of cost control, selective growth and a focus on the balance sheet. This has been backed up with additional clarity around current growth plans including the deferral of Olympic Dam. Further, no new projects are expected to be approved in FY13, in part, as capex of US$22bn will be funded by some additional debt. In the current market, BHP is focused on pushing hard on costs in FY13 and expects some advantage from increasing production. We maintain a Buy rating and A$40.00 target price, as we regard the diversified structure as an advantage under current market conditions."
For an analyst ratings summary and ratings history on BHP Billiton click here. For more ratings news on BHP Billiton click here.
Shares of BHP Billiton closed at $69.70 yesterday.
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