BHP Billiton (BLT) Hits New 12-Month High on Analyst Upgrade

BHP Billiton plc (LON:BLT) reached a new 52-week high during trading on Tuesday after Barclays raised their price target on the stock from GBX 1,800 to GBX 1,850. Barclays currently has an overweight rating on the stock. BHP Billiton traded as high as GBX 1,786.80 ($23.97) and last traded at GBX 1,779.20 ($23.87), with a volume of 7010382 shares. The stock had previously closed at GBX 1,769.60 ($23.74).

BLT has been the subject of a number of other reports. Royal Bank of Canada raised shares of BHP Billiton to a “sector performer” rating in a report on Wednesday, April 4th. Morgan Stanley reaffirmed an “overweight” rating on shares of BHP Billiton in a report on Wednesday, March 28th. Citigroup raised shares of BHP Billiton to a “buy” rating and set a GBX 1,600 ($21.47) price objective for the company in a report on Friday, April 20th. Credit Suisse Group reaffirmed a “neutral” rating and set a GBX 1,430 ($19.19) price objective on shares of BHP Billiton in a report on Thursday, February 15th. Finally, Liberum Capital reaffirmed a “sell” rating and set a GBX 800 ($10.73) price objective on shares of BHP Billiton in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. BHP Billiton currently has an average rating of “Hold” and a consensus target price of GBX 1,491.53 ($20.01).

BHP Billiton Company Profile

BHP Billiton Plc, together with its subsidiaries, discovers, acquires, develops, and markets natural resources worldwide. It operates through four segments: Petroleum, Copper, Iron Ore, and Coal. The company explores for copper, silver, lead, zinc, molybdenum, uranium, gold, and iron ores, as well as metallurgical coal, thermal energy coal, and oil and gas properties.

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