Business
Top broker says the South32 (ASX:S32) share price is in the buy zone
The South32 Ltd (ASX: S32) share price has come under pressure on Monday and is dropping lower.
At the time of writing, the mining giant’s shares are down 1.5% to $2.73.
Is this a buying opportunity?
One broker that would see today’s weakness in the South32 share price as a buying opportunity is Goldman Sachs.
At the end of last week, the broker released a positive note which revealed that its analysts have retained their buy rating and lifted the price target on South32’s shares to $3.10.
Based on the latest South32 share price, this price target implies potential upside of 13.5% excluding dividends. Including dividends, this potential return increases to approximately 16% over the next 12 months.
Why does Goldman Sachs…
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