Market Overview

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

Related BP
Shares Of BP Under Pressure As Word Of New US Sanctions Weigh
Transocean Unit Applies for $350M IPO - Analyst Blog
Attorney Sees 5,000 Deaths From GM Ignition-Switch Issue (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.

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

 

Most Popular

Related Articles (BP)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free