BP (BP) Price Target Cut to GBX 630 by Analysts at HSBC
BP (LON:BP) had its price objective decreased by HSBC from GBX 690 ($9.02) to GBX 630 ($8.23) in a research note issued on Monday. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. HSBC’s target price would suggest a potential upside of 22.05% from the stock’s current price.
Other research analysts also recently issued reports about the company. Barclays reiterated an “overweight” rating on shares of BP in a research note on Tuesday, October 30th. Credit Suisse Group dropped their price target on BP from GBX 675 ($8.82) to GBX 650 ($8.49) and set an “outperform” rating for the company in a research note on Wednesday, December 19th. Morgan Stanley dropped their price target on BP from GBX 650 ($8.49) to GBX 595 ($7.77) and set an “overweight” rating for the company in a research note on Tuesday, January 8th. Royal Bank of Canada restated a “top pick” rating and issued a GBX 700 ($9.15) price target on shares of BP in a research note on Monday, December 10th. Finally, BNP Paribas restated an “outperform” rating and issued a GBX 700 ($9.15) price target on shares of BP in a research note on Thursday, October 4th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. BP currently has an average rating of “Buy” and an average price target of GBX 641.58 ($8.38).
Shares of LON:BP opened at GBX 516.20 ($6.75) on Monday. BP has a fifty-two week low of GBX 436.95 ($5.71) and a fifty-two week high of GBX 536.20 ($7.01).
BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).
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