South32 upgraded to Buy at Citi ahead of second half catalysts

As previously reported, Citi upgraded South32 (SOUHY) to Buy from Neutral with a price target of A$4, up from A$3.90. In the second half of FY25, the firm expects improved cash generation and lower unit operating expense, as well as expanded buyback activity and potential news on a Cerro Matoso exit, the analyst tells investors.