BP (LON:BP) Stock Price Expected to Rise, Berenberg Bank Analyst Says

Key Points

• Berenberg Bank raised its price target on BP from GBX 590 to GBX 600 and kept a buy rating, implying about 16.17% upside from the previous close.
• BP has broad analyst support, with several firms recently upgrading or reiterating bullish views; overall, the stock carries a Moderate Buy consensus and an average price target of GBX 605.
• Shares opened at GBX 516.50, with BP’s market cap at about £100.53 billion; the stock has traded between GBX 379.70 and GBX 562.30 over the past 12 months.

BP (LON:BP - Get Free Report) had its price objective lifted by stock analysts at Berenberg Bank from GBX 590 to GBX 600 in a note issued to investors on Wednesday,Digital Look reports. The firm presently has a "buy" rating on the oil and gas exploration company's stock. Berenberg Bank's price objective indicates a potential upside of 16.17% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. DZ Bank reaffirmed a "buy" rating on shares of BP in a report on Tuesday, April 28th. BNP Paribas Exane raised shares of BP from a "neutral" rating to an "outperform" rating in a research note on Friday, April 17th. Morgan Stanley upgraded BP to an "overweight" rating in a research note on Wednesday, March 25th. Royal Bank Of Canada reaffirmed a "buy" rating on shares of BP in a report on Wednesday, July 1st. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of BP in a research report on Wednesday, July 1st. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of GBX 605.

BP Price Performance

Shares of LON BP opened at GBX 516.50 on Wednesday. The stock has a market capitalization of £100.53 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 0.35 and a beta of 0.06. BP has a 12 month low of GBX 379.70 and a 12 month high of GBX 562.30. The firm's 50 day simple moving average is GBX 519.16 and its 200-day simple moving average is GBX 507.54. The company has a debt-to-equity ratio of 132.55, a current ratio of 1.22 and a quick ratio of 0.62.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source