0235 GMT - Jefferies analysts aren't ruling out more copper M&A for BHP, even after the miner's CEO, Mike Henry, said the company is firmly focused on its own projects. "We reiterate our hold rating on BHP as the company has been more aggressive than its peers in pursuing opportunistic M&A, and we believe further M&A risk remains," the Jefferies analysts say in a note. They also raise concerns about the outlook for dividends unless commodity prices surprise. "Combined with its rising net debt and organic growth pipeline, BHP's ability to deliver capital returns in excess of its base 50% payout ratio is limited unless commodity prices are much stronger than we anticipate," the analysts say. Jefferies has a A$43.00 target on BHP, which is up 0.5% at A$41.01/share.(rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
February 17, 2025 21:35 ET (02:35 GMT)
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