South32 upgraded to Buy

With a volatile share price since listing, Gaurav Sodhi explains why South32 is a Buy.

BHP Billiton spinoff South32 has had a tumultuous start to life; falling, rising and falling again in just a few weeks as a listed business. Such volatility is not unexpected from a mining business but, in this case, it appears to have little to do with commodity price movements and more to do with buying and selling as new and old shareholders cross paths.

Such short-term inefficiencies can create opportunity and with South32’s share price now below $2.30, we’re upgrading to Buy.

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