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Wall Street Analysts Are Bullish on Top Materials Picks

Tipranks - Tipranks - Thu Aug 6, 8:54PM CDT

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on BHP Group Ltd (BHPLF) and Bluescope Steel (BLSFF) with bullish sentiments.

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BHP Group Ltd (BHPLF)

In a report released today, Rahul Anand from Morgan Stanley maintained a Buy rating on BHP Group Ltd, with a price target of A$67.00. The company’s shares closed last Tuesday at $43.40.

According to TipRanks.com, Anand is a 5-star analyst with an average return of 13.5% and a 56.1% success rate. Anand covers the Basic Materials sector, focusing on stocks such as Fortescue Metals Group Ltd, Sandfire Resources Limited, and Iluka Resources Limited. ;'>

Currently, the analyst consensus on BHP Group Ltd is a Hold with an average price target of $42.07, a -3.1% downside from current levels. In a report issued on July 23, TipRanks – xAI also reiterated a Buy rating on the stock with a A$67.00 price target.

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Bluescope Steel (BLSFF)

In a report released today, William Wilson from UBS maintained a Buy rating on Bluescope Steel, with a price target of A$37.50. The company’s shares closed last Wednesday at $24.50.

Wilson has an average return of 29.4% when recommending Bluescope Steel . ;'>

According to TipRanks.com, Wilson is ranked #5468 out of 12430 analysts.

Bluescope Steel has an analyst consensus of Strong Buy, with a price target consensus of $25.89, implying a 5.7% upside from current levels. In a report issued on July 22, TipRanks – Google also upgraded the stock to Buy with a A$35.00 price target.

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