Macquarie Wealth Management had an outperform rating on BHP ahead of the Anzac weekend, including a $35 per share price target when they were $30.27, and rated the May 6 shareholder vote on the South32 spinoff as a significant near-term catalyst.
“We do not envisage much shareholder resistance to the de-merger and expect it to list as planned on May 18,” Macquarie said.
While the head office will be in Perth, the Illawarra Coal division is expected to run in a similar vein to today under its local management team.
