BP (LON:BP) Price Target Raised to GBX 675 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised BP’s price target from GBX 550 to GBX 675 and maintained an “overweight” rating, implying 24.47% potential upside.
• Analyst sentiment is broadly positive: ten analysts rate BP a Buy and one a Hold, with a consensus “Moderate Buy” rating and GBX 605 target price.
• BP shares opened at GBX 542.30, near their 52-week high of GBX 562.30; the company has a market capitalization of approximately £105.55 billion.

BP (LON:BP - Get Free Report) had its target price increased by research analysts at JPMorgan Chase & Co. from GBX 550 to GBX 675 in a note issued to investors on Wednesday, Digital Look reports. The firm presently has an "overweight" rating on the oil and gas exploration company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 24.47% from the company's current price.

Several other brokerages have also issued reports on BP. Jefferies Financial Group restated a "hold" rating and set a GBX 520 price target on shares of BP in a research note on Tuesday, August 25th. The Goldman Sachs Group reiterated a "buy" rating on shares of BP in a research note on Wednesday, July 1st. Berenberg Bank increased their price objective on BP from GBX 600 to GBX 605 and gave the company a "buy" rating in a report on Tuesday, August 18th. UBS Group reissued a "buy" rating on shares of BP in a research report on Tuesday, June 16th. Finally, Royal Bank Of Canada upgraded BP to an "outperform" rating and set a GBX 700 target price on the stock in a research note on Friday, September 4th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of GBX 605.

BP Stock Performance

Shares of BP stock opened at GBX 542.30 on Wednesday. The company has a debt-to-equity ratio of 124.41, a quick ratio of 0.62 and a current ratio of 1.27. The firm has a market cap of £105.55 billion, a price-to-earnings ratio of 40.51, a P/E/G ratio of 0.35 and a beta of 0.06. BP has a 52 week low of GBX 379.70 and a 52 week high of GBX 562.30. The firm's 50-day simple moving average is GBX 537.29 and its two-hundred day simple moving average is GBX 537.63.

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.

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