Credit Suisse Group AG Upgrades BP plc (BP) to “Outperform”
BP plc (LON:BP) was upgraded by Credit Suisse Group AG to an “outperform” rating in a report issued on Thursday. The brokerage presently has a GBX 500 ($6.20) target price on the oil and gas exploration company’s stock, up from their previous target price of GBX 480 ($5.95). Credit Suisse Group AG’s price objective would indicate a potential upside of 8.83% from the stock’s current price.
A number of other research analysts also recently commented on the stock. Barclays PLC reaffirmed an “overweight” rating and set a GBX 600 ($7.44) price objective on shares of BP plc in a research report on Monday, October 10th. Societe Generale downgraded shares of BP plc to a “hold” rating and set a GBX 500 ($6.20) price objective on the stock. in a research report on Wednesday, November 2nd. BNP Paribas reaffirmed an “outperform” rating and set a GBX 530 ($6.57) price objective (up from GBX 350 ($4.34)) on shares of BP plc in a research report on Tuesday, October 11th. HSBC boosted their price objective on shares of BP plc from GBX 495 ($6.14) to GBX 570 ($7.07) and gave the company a “buy” rating in a research report on Tuesday, October 11th. Finally, Goldman Sachs Group Inc. set a GBX 418 ($5.19) price objective on shares of BP plc and gave the company a “neutral” rating in a research report on Wednesday, October 5th. Fifteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of GBX 468.92 ($5.82).
BP plc (LON:BP) opened at 459.45 on Thursday. The firm’s 50-day moving average is GBX 467.88 and its 200 day moving average is GBX 428.84. BP plc has a one year low of GBX 249.44 and a one year high of GBX 498.45. The firm’s market capitalization is GBX 86.90 billion.
In other BP plc news, insider Brian Gilvary bought 65 shares of the business’s stock in a transaction on Monday, October 10th. The shares were bought at an average cost of GBX 486 ($6.03) per share, for a total transaction of £315.90 ($391.89).
About BP plc
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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