How Will BP (NYSE:BP) Stock React to The Latest Coverage By Credit Agricole?

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How Credit Agricole Currently Rates BP (NYSE:BP)

Credit Agricole issued Buy rating on BP (NYSE:BP). The firm have commenced coverage coverage on shares of BP in analysts note issued to investors and clients on Tuesday morning.

From a total of 9 analysts covering BP (NYSE:BP) stock, 4 rate it a ”Buy”, 1 a “Sell”, and 7 a ”Hold”. This means that 33% of the ratings are positive. The highest target price is $45 while the lowest target price is $30.23. The mean of all analyst targets is $37.73 with a 35.51% above today’s ($30.75) stock price. BP was the topic of 21 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Howard Weil upgraded shares on December 14 to “Focus Stock” rating. Evercore upgraded BP stock in a recent report from November 3 to “Buy” rating. Finally, BMO Capital Markets initiated the stock with “Outperform” rating in a report issued on a September 28.

The stock increased 1.75% or $0.53 during the last trading session, striking $30.75. Approximately 13.44 million shares of stock traded hands or 90.10% up from the average. BP plc (ADR) (NYSE:BP) has declined 29.21% since May 12, 2015 and is downtrending. It has underperformed by 25.53% the S&P500.

BP p.l.c. is an integrated oil and gas company. The company has a market cap of $91.86 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.”

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