HSBC Boosts BP plc (BP) Price Target to GBX 570
BP plc (LON:BP) had its target price lifted by stock analysts at HSBC from GBX 495 ($6.13) to GBX 570 ($7.05) in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. HSBC’s price target suggests a potential upside of 16.54% from the stock’s current price.
Several other research firms have also recently weighed in on BP. BNP Paribas reissued an “outperform” rating and set a GBX 530 ($6.56) price objective (up previously from GBX 350 ($4.33)) on shares of BP plc in a research report on Tuesday. Barclays PLC reissued an “overweight” rating and set a GBX 600 ($7.43) price objective on shares of BP plc in a research report on Monday. Goldman Sachs Group Inc. set a GBX 418 ($5.17) price objective on BP plc and gave the stock a “neutral” rating in a research report on Wednesday, October 5th. Jefferies Group reissued a “hold” rating and set a GBX 400 ($4.95) price objective on shares of BP plc in a research report on Monday, July 18th. Finally, Independent Research GmbH set a GBX 490 ($6.06) price objective on BP plc and gave the stock a “neutral” rating in a research report on Monday, July 18th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of GBX 451.64 ($5.59).
Shares of BP plc (LON:BP) opened at 493.32 on Tuesday. BP plc has a one year low of GBX 249.44 and a one year high of GBX 498.45. The company has a 50 day moving average price of GBX 437.88 and a 200 day moving average price of GBX 402.57. The company’s market cap is GBX 92.63 billion.
BP plc Company Profile
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.
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