Bull Of The Day: BHP Billiton
Written on July 4, 2011 by Julia Woodard
BHP Billiton (NYSE:BHP) is a diversified resource company with operations around the globe. Over the longer term, we view the economic recovery and ongoing industrialization in the emerging markets quite positively, as it is expected to improve the demand and price of the companys products.
BHP Billitons commitment toward its long-term growth through key investment strategies appears encouraging and expected to raise organic revenue. Moreover, the progressive dividend policy and capital management program enhance shareholders sentiments. The companys diversification into potash development strengthens our outlook on the stock.
Thus, we upgrade our recommendation from Neutral to Outperform. Our $115.00 target price, 14.8x fiscal 2012 EPADS reflects this view.
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