Macquarie: BHP's copper business plan reaches a significant milestone.

Macquarie described in a report that BHP's performance in the first half of the fiscal year "is an important milestone in the company's development process." The bank stated that the world's largest mining company has planned a path for the growth of its copper business after several acquisitions. These more detailed plans were unveiled three months after another failed takeover offer for Anglo American. Macquarie stated: "The longer-term growth trajectory and financing options are evident, while meeting the demand of income-oriented investors through a higher dividend payout ratio." The bank raised its target price for BHP by 2% to 52 Australian dollars per share and maintained a neutral rating. The stock fell by 1.7% to 51.86 Australian dollars after being boosted by the mining company's latest performance update, following a 4.7% increase on Tuesday.