Bp (LON:BP) Rating Reaffirmed
Recently, In an analyst note sent to investors and clients on Monday morning, Bp (LON:BP) shares have had their “Buy” Rating reaffirmed by stock research analysts at Canaccord Genuity, who currently has a GBX 500.00 TP on company. This target by Canaccord Genuity may imply the possibile upside of 43.84% from the previous stock close.
From a total of 25 analysts covering BP PLC (LON:BP) stock, 12 rate it a ”Buy”, 3 a “Sell”, and 15 a ”Hold”. This means that 40% of the ratings are positive. The highest target price is GBX 8.97 while the lowest target price is GBX 4.86. The mean of all analyst targets is GBX 6.13 with a 18.05% above today’s (GBX 350.9) stock price. BP PLC was the topic of 96 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on December 7 with “Buy” rating. Jefferies maintained shares with “Hold” rating and GBX 360 target share price in a report from a November 27. Macquarie Research maintained BP stock in a recent report from December 4 with “Neutral” rating. Credit Suisse maintained the rating on November 24. Credit Suisse has a “Underperform” rating and a GBX 365 price target on shares. Finally, Bernstein maintained the stock with “Outperform” rating in a report issued on a December 1.
The stock decreased 2.45% or GBX 8.8 on December 7, striking GBX 350.9. Approximately 32.31 million shares of stock traded hands or 3.69% up from the average. BP plc (LON:BP) has declined 22.02% since May 8, 2015 and is downtrending. It has underperformed by 20.95% the S&P500.
BP p.l.c. is an integrated oil and gas company. The company has a market cap of 62.55 billion GBP. 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 (BP).