Sumary of The BHP (ASX:BHP) share price is worth $55 according to Macquarie:
- The BHP Group Ltd (ASX: BHP) share price has been among the worst performers on the S&P/ASX 200 Index (ASX: XJO) over the last month.
- During this time the mining giant’s shares have lost 20% of their value.
- Is the weakness in the BHP share price a buying opportunity?
- The good news for investors looking for options in the resources sector is that the team at Macquarie Group Ltd (ASX: MQG) believe the BHP share price is in the buy zone after this decline.
- According to a note out of the investment bank this week, its analysts have retained their outperform rating and lifted their price target on the company’s shares to $55.00. Based on the latest BHP share price of $41.73, this price target implies potential upside of 32% over the next 12 months before dividends.
- And if you include the $3.60 per share fully franked dividend that Macquarie expects BHP to pay in FY 2022, this potential return increases to ~41%.