This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Mining p6
BHP Billiton (BLT)
Where next for BLT shares?
- The miner has benefitted from recent strength in iron ore and oil prices, both of which have posted good gains in the past week, as have a host of other commodities whose prices are linked to the Chinese economy after the PBoC hinted at more stimulus.
- The company has had its credit rating maintained by S&P at “A” and Fitch at “A+” after it cut its dividend.
- A break above the current average target price potentially puts the 200-day moving average within reach.
Will BHP Billiton (BLT) fall back towards the lows of 575p or rally on towards the 200-day MA 1000p?
Broker Consensus: 38% Buy, 41% Hold, 21% Sell
Average 12-month broker target price: 778p
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Prepared by Michael van Dulken, Head of Research
