小摩：股东回报强劲+资本支出下调维持必和必拓(BHP.US)“增持”评级

智通财经2025-08-20

智通财经APP获悉，在必和必拓(BHP.US)公布财年业绩后，摩根大通维持“增持”评级，目标价44澳元。虽然必和必拓较其 6 月低点上涨了 18%(澳大利亚基准股指ASX200同期上涨 5%)，但小摩仍维持其高估值评级。小摩预计持续的投资者兴趣将继续推动，得益于中国“反内卷”政策/全球经济增长扩张。不过，小摩注意到大部分收益已经实现。以下是小摩主要观点：1)2025财年业绩良好，EBITDA为 ...

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小摩：股东回报强劲+资本支出下调 维持必和必拓(BHP.US)“增持”评级

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小摩：股东回报强劲+资本支出下调维持必和必拓(BHP.US)“增持”评级