Analysts raise BHP’s price targets to $95 and 2,600 GBp amid rising copper, iron ore, and nickel demand tied to EV and clean energy trends.
Deutsche Bank raised its price target on BHP Group (NYSE:BHP) to 2,600 GBp from 2,400 GBp on May 15, maintaining a Hold rating. Argus Research followed on April 27, lifting its target to $95 from $90 and reiterating a Buy rating.
The upgrades reflect strengthening commodity prices, driven by global inflation and improving economic conditions in China. Analysts highlighted BHP’s exposure to copper, iron ore, and nickel as key growth drivers, particularly for electric vehicle and renewable energy infrastructure.
BHP’s role in supplying critical minerals for EV batteries and grids positions it to benefit from long-term demand trends. The company’s diversified portfolio and strategic focus on clean energy adoption underpin its outlook.