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BofA Securities turns bullish on BHP, citing an improved outlook for copper prices. It raises its share-price target on BHP to 68 Australian dollars from A$65 and upgrades the stock to buy from neutral. That follows a 20% lift in its long-term copper price forecast to US$13,577/metric ton. BofA vie…
Bank of America has increased its long-term forecast for copper prices, attributing the revision to a tightening supply outlook outside the U.S. and persistent tightness in the Chinese market. The bank also noted that elevated oil prices and the Iran conflict may continue to pressure precious metals in the near term.
Marvell Technology, Inc. (NASDAQ: MRVL ) stock rose about 0.5% in Monday premarket trading as investors looked ahead to the chipmaker’s next earnings report. The move came despite weakness in the broader market. Nasdaq futures fell 0.13%, while S&P 500 futures slipped 0.06%. Investors are also looking ahead to Marvell’