HSBC Analysts Give BP (BP) a GBX 650 Price Target
BP (LON:BP) has been assigned a GBX 650 ($8.49) price target by analysts at HSBC in a report issued on Thursday, Borsen Zeitung reports. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. HSBC’s price target would indicate a potential upside of 17.84% from the company’s previous close.
A number of other analysts have also recently issued reports on BP. Royal Bank of Canada set a GBX 615 ($8.04) price objective on BP and gave the company a “buy” rating in a research report on Wednesday, May 1st. Barclays reissued an “overweight” rating and set a GBX 700 ($9.15) price objective on shares of BP in a research report on Thursday, April 4th. JPMorgan Chase & Co. lifted their price objective on BP from GBX 600 ($7.84) to GBX 625 ($8.17) and gave the company an “overweight” rating in a research report on Friday, April 12th. Deutsche Bank set a GBX 615 ($8.04) price objective on BP and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, Credit Suisse Group reissued an “outperform” rating and set a GBX 640 ($8.36) price objective on shares of BP in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of GBX 650.88 ($8.50).
Shares of BP stock opened at GBX 551.60 ($7.21) on Thursday. The firm has a market capitalization of $113.96 billion and a PE ratio of 11.30. BP has a 12 month low of GBX 481.35 ($6.29) and a 12 month high of GBX 603.20 ($7.88). The company has a quick ratio of 0.66, a current ratio of 1.02 and a debt-to-equity ratio of 73.82.
BP Company Profile
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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