Goldman Sachs analyst Paul Young downgraded BHP Group to Neutral from Buy after the company reported 1H FY19 underlying earnings that were down 23% half-over-half due to a weak operating performance mainly across copper and coal. The company's production, capex, growth projects and unit costs guidance implies a very strong operating performance in the second half, said Young, who cites valuation for his rating change. He decreased his FY19 EPS estimate by 4% on the slightly weaker result and higher thermal coal costs and revised his price target on BHP shares to A$36.20.

JPMorgan lowered the firm's price target on BHP Group to 2,650 GBp from 2,700 GBp and keeps a Neutral rating on the shares.