17.71% to Target, Argus Sticks With ‘”Buy”’ Rating on BP (NYSE:BP) Shares Today

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BP (NYSE:BP) Rating Reaffirmed

In recent note revealed to clients on 27 November, The “Buy” rating of BP (NYSE:BP) shares was reconfirmed by Analysts at Argus, who now has a $41 target price per share on the stock. Argus’s target price per share may mean a possible upside of 17.71% from the closing share price of the company.

From a total of 18 analysts covering BP (NYSE:BP) stock, 9 rate it a ”Buy”, 1 a “Sell”, and 8 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $42 while the lowest target price is $40.0. The mean of all analyst targets is $41 with a 17.65% above today’s ($34.85) stock price. BP was the topic of 20 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Argus Research maintained shares on November 27 with “Buy” rating. Morgan Stanley upgraded BP stock in a recent report from November 2 to “Equalweight” rating. Finally, BMO Capital Markets initiated the stock with “Outperform” rating in a report issued on a September 28.

The stock decreased 0.40% or $0.14 on November 27, striking $34.85. Approximately 2.85 million shares of stock traded hands. BP plc (ADR) (NYSE:BP) has declined 19.08% since April 27, 2015 and is downtrending. It has underperformed by 18.18% the S&P500.

BP p.l.c. is an integrated oil and gas company. The company has a market cap of $107.91 billion. The Firm provides its clients with fuel for transportation, energy for heat and light, lubricants and the petrochemicals products used to make everyday items, including paints, clothes and packaging. It currently has negative earnings. The Firm operates in three business divisions: Upstream, Downstream and Rosneft.

According to Zacks Investment Research, “BP p.l.c. is the holding company of one of the world’s largest petroleum and petrochemicals groups. Their main activities are exploration and production of crude oil and natural gas; refining, marketing, supply and transportation; and manufacturing and marketing of petrochemicals. They have a growing activity in gas and power and in solar power generation. BP has well-established operations in Europe, North and South America, Australasia and Africa.” Get a free copy of the Zacks research report on BP plc (ADR) (BP)

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