Market Overview

UPDATE: Bank of America Reinstates Coverage on BP plc on Attractive Risk/Reward

Related BP
How The Experts Are Playing Oil Right Now
Deutsche Bank Cuts FY15 Oil Sector EPS View 28%
Oil Prices Outlook for 2015 (Fox Business)

In a report published Friday, Bank of America analyst Christopher Kuplent reinstated coverage on BP plc (NYSE: BP) with a Buy rating and $52.00 price target.

In the report, Bank of America noted, “We believe BP's risk/reward is attractive and skewed to the upside. Despite outstanding litigation uncertainty in the US, we believe BP's free cash flow improvements, low gearing and stand-out dividend cover should allow the company to weather potentially increased claims or fines. Meanwhile, we believe BP will be one of the few Supermajors showing signs of OCF per barrel of output improving in the near-term - key for supporting its capex and dividend bills organically.”

BP plc closed on Thursday at $46.97.

Latest Ratings for BP

DateFirmActionFromTo
Dec 2014Deutsche BankUpgradesHoldBuy
Nov 2014JP MorganDowngradesOverweightNeutral
Oct 2014Societe GeneraleDowngradesBuyHold

View More Analyst Ratings for BP
View the Latest Analyst Ratings

Posted-In: Bank of America Christopher KuplentAnalyst Color Initiation Analyst Ratings

 

Related Articles (BP)

Around the Web, We're Loving...

Get Benzinga's Newsletters