BHP: Focusing On Long-Term Prospects, While Trading Short-Term Volatility (Rating Upgrade)

BHP shares have declined about 10% since the Iran war began, creating a potential bargain entry point. I am shifting from a hold to a cautious buy on BHP, initiating a small position and planning incremental purchases if declines persist. BHP's long-term fundamentals remain strong, with the copper segment poised to benefit from developing world demand growth, while its iron ore segment might surprise on the upside.