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Fly News Breaks for March 3, 2020
BHP
Mar 3, 2020 | 13:09 EDT
JPMorgan analyst Lyndon Fagan upgraded BHP Group to Overweight from Neutral with a A$42 price target. The analyst sees a "compelling" valuation after the COVID-19 selloff has driven shares of BHP down 17% since its January 20, 2020 peak. While "significant uncertainty" around how the virus spreads outside China remains, the situation in China appears to be improving, Fagan tells investors in a research note. And this is likely to be helped along by additional stimulus measures in 2020, adds the analyst.
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