Trump says Iran war "close to over" amid hopes for more negotiations
Investing.com - UBS upgraded BP Plc. (NYSE:BP) to Buy from Neutral and raised its price target to 700 pence from 650 pence.
UBS analyst Joshua Stone made the rating change as BP’s new CEO Meg O’Neill assumes leadership of the company.
"BP’s new CEO Meg O’Neill takes over at a critical turning point for the company, in our view," Stone said. "A higher for longer price environment is undoubtedly positive for the stock, but there is still work to regain investor confidence and reverse the 52% of underperformance versus peers since 2018."The stock has shown recent momentum, with shares up 80% over the past year and trading at $46.33, near its 52-week high of $48.27. According to InvestingPro analysis, BP appears undervalued at current levels, with the platform’s Fair Value suggesting further upside potential. The company is also featured in a comprehensive Pro Research Report, one of 1,400+ available reports that transform complex Wall Street data into clear, actionable intelligence.
UBS identified four potential areas of focus ahead of an expected strategy update later in the year.
The firm said the opportunity available for BP supported the upgrade to Buy with the new 700 pence price target.
In other recent news, BP has been the focus of multiple analyst updates and financial adjustments. Raymond James raised its price target for BP to $52 from $40, maintaining an Outperform rating, and increased its earnings per American Depositary Share estimate for the first quarter of 2026 to $0.70 from $0.55. The full-year 2026 estimate was also elevated to $4.50 from $2.80, based on higher commodity strip pricing. Meanwhile, HSBC upgraded BP to Hold from Reduce, citing an improved deleveraging outlook and raised its price target to GBP5.65 from GBP4.30. However, Freedom Capital Markets downgraded BP to Sell, maintaining a price target of $37.00, following BP’s fourth-quarter 2025 results, which were described as "soft" but aligned with expectations. BP has also suspended its share repurchase program amid weakening oil prices. Additionally, HSBC later downgraded BP again to Reduce, lowering its price target to GBP4.30 from GBP4.75, due to delayed growth prospects despite strategic moves by the company. These developments reflect varying analyst perspectives on BP’s financial outlook and strategic initiatives.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.