Guess Who Just Upgraded BHP Shares to a Buy Rating?
BHP Group Ltd ( ASX: BHP ) shares have just found a new bull. According to Goldman Sachs, investors should be snapping up the Big Australian's shares before it's too late. Image Credit: Pexels Who Is Bullish on BHP Shares? The broker in question is none other than Goldman Sachs. According to a note from the investment bank, its analysts have reinstated coverage on the mining giant with a buy rating and a $49.00 price target. Given the current BHP share price of $44.05, this implies a potential upside of 11.2% for investors over the next 12 months. But that’s not the end of the returns. Goldman Sachs is also forecasting fully franked dividend yields of 4.9% in FY 2024 and 4.3% in FY 2025. This stretches the total potential 12-month return from BHP shares to around 16%. Why Should You Invest in BHP? Goldman Sachs has identified several compelling reasons why it believes investors should be considering the ASX mining shares today. Attractive Valuation One of the key points highl...