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BofA Upgrades BHP Billiton To Buy, Says '16 Will Be The Inflection Point

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BHP Billiton Limited (ADR) BHP 1.42% may be poised for an upturn in ROCE. BofA Merrill Lynch’s Jason Fairclough upgraded the rating for the company from Neutral to Buy, while raising the price objective from 825p to 1,250p.

Analyst Jason Fairclough mentioned three reasons for the upward revisions:

  1. The company’s ROCE is likely to bottom in the first half of 2016, and...