In today’s briefing:
- OZ Minerals – Circumstances Apparently Do NOT Merit a Revised Tilt
- Phillips 66: Potential Acquisition of DCP Midstream & Other Drivers
OZ Minerals – Circumstances Apparently Do NOT Merit a Revised Tilt
- Talk about timing… Friday before the close I wrote that I thought circumstances might merit a revised tilt at OZ Minerals Ltd (OZL AU) by BHP Group Ltd (BHP AU).
- Earnings are Monday, copper is up in AUD terms, time is moving us forward into a supply squeeze. It all looks good to me.
- But an article this morning in the AFR says BHP CEO Mike Henry called OZ Minerals “nice to have” not a “must have” and talked “discipline.” Oops.
Phillips 66: Potential Acquisition of DCP Midstream & Other Drivers
- With the results of Phillips 66 around the corner, the stock price has been appreciating over the past few weeks.
- Among major updates, Phillips 66 has offered to acquire the public units of DCP Midstream, the natural gas company, to boost its business of natural gas liquids.
- We provide the stock of Phillips 66 a ‘Hold’ rating and a revision in the target price.
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