bp: Berenberg raises target price
(CercleFinance.com) - While maintaining its 'hold' recommendation on bp shares, Berenberg raises its target price for them from 440 pence to 450 pence, despite adjusting its estimates following the weak quarterly results of 11 February.
The German broker thus reduces its EPS estimate by 5.5% for 2025, due to a weaker earnings assumption in downstream activities, but makes only minor adjustments to its EPS expectations for 2026 and 2027.
The bp share has been the best performer among the oil majors this year, up 14%, in our view, buoyed by speculation around the strategy reset scheduled for this Wednesday, 26 February, Berenberg notes.
Although we see ways for the company to deliver significant value, we still believe there are significant obstacles to achieving this goal', it warns ahead of this event.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The German broker thus reduces its EPS estimate by 5.5% for 2025, due to a weaker earnings assumption in downstream activities, but makes only minor adjustments to its EPS expectations for 2026 and 2027.
The bp share has been the best performer among the oil majors this year, up 14%, in our view, buoyed by speculation around the strategy reset scheduled for this Wednesday, 26 February, Berenberg notes.
Although we see ways for the company to deliver significant value, we still believe there are significant obstacles to achieving this goal', it warns ahead of this event.
Copyright (c) 2025 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.