BP (LON:BP) had its target price lifted by research analysts at Credit Suisse Group from GBX 640 ($8.36) to GBX 665 ($8.69) in a research report issued on Monday. The firm presently has an “outperform” rating on the oil and gas exploration company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 19.48% from the stock’s previous close.
A number of other equities analysts have also issued reports on BP. JPMorgan Chase & Co. set a GBX 650 ($8.49) price objective on BP and gave the stock a “buy” rating in a report on Monday, July 9th. Barclays reissued an “overweight” rating and issued a GBX 690 ($9.02) price objective on shares of BP in a report on Monday, July 2nd. UBS Group set a GBX 610 ($7.97) price objective on BP and gave the stock a “buy” rating in a report on Friday, July 20th. Morgan Stanley reaffirmed an “overweight” rating on shares of BP in a research note on Thursday, October 18th. Finally, HSBC reaffirmed a “buy” rating on shares of BP in a research note on Friday, July 20th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of GBX 631.90 ($8.26).
Shares of BP stock opened at GBX 556.60 ($7.27) on Monday. BP has a 12-month low of GBX 436.95 ($5.71) and a 12-month high of GBX 536.20 ($7.01).
BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).
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