Morgan Stanley is tactically bullish on BHP (BHP.US): Two major copper mine catalysts may ignite the stock price in the next two months

According to information from Zhitong Finance APP, the latest tactical investment report released by Morgan Stanley indicates that the share price of BHP (BHP.US) is expected to achieve an absolute increase (share price itself rises, not relative to the market) within the next 60 days, with a probability estimate of around 70% to 80% (i.e., "very likely"). The bank maintains an "Overweight" rating on BHP and views the sector as "attractive," setting a target price of AUD 69.00 for its shares listed in Australia. As of the close on October 12, BHP's share price was AUD 62.43, representing an upside potential of about 10.5% to the target price.

Morgan Stanley analyst Rahul Anand and his team stated in the report that BHP could see several positive catalysts in the coming months. The most noteworthy is that the company will be hosting an investor and analyst site visit at its Copper SA project in South Australia. The bank believes this event could boost market confidence in the scale and ramp-up schedule of BHP's copper growth plans, which is not yet fully reflected in the current market consensus.

In addition, the final investment decision (FID) for the first phase of the Vicuna copper project is expected to be made by the end of 2026, which also represents a potential catalyst for the share price. Morgan Stanley points out that these catalysts could strengthen the share price in the short term.