Citi analysts have reduced their price target on BHP Group (ASX:BHP), the world’s largest listed miner, from A$44 to A$45 while maintaining a ‘neutral’ rating.

The analysts favor the assets and management of BHP, but desire for them to be less expensive.

Following BHP’s guidance for higher than expected costs, the brokerage has adjusted its FY24/25 EBITDA expectations to $25.4 billion and $31 billion respectively.

They also anticipate an increase of FY23 EBITDA at $28 billion.

Base metal prices could possibly improve the EBITDA expectations as we proceed into FY25.

BHP recorded its lowest annual profit in three years this Tuesday as the prices of their pivotal commodities eased from multi-year peaks.

Recent Refinitiv data shows that out of 20 analysts, nine hold a ‘buy’ or higher rating for the stock, eight rate it ‘hold’, and three issue a ‘sell’ or lower rating.

Their median price target stands at A$45.00.

BHP Group (ASX:BHP) is the world’s largest listed mining company with diverse portfolio of operations across multiple commodities.