BP plc Downgraded by Deutsche Bank to Hold (BP)
BP plc (LON:BP) was downgraded by investment analysts at Deutsche Bank to a “hold” rating in a note issued to investors on Wednesday. They currently have a GBX 550 ($9.43) price objective on the stock, up from their previous price objective of GBX 540 ($9.26). Deutsche Bank’s price target indicates a potential upside of 8.27% from the stock’s previous close.
BP plc (LON:BP) traded down 0.53% on Wednesday, hitting GBX 508.00. 15,635,234 shares of the company’s stock traded hands. BP plc has a 52-week low of GBX 426.55 and a 52-week high of GBX 526.80. The stock’s 50-day moving average is GBX 510.0 and its 200-day moving average is GBX 493.4. The company’s market cap is £93.785 billion.
BP has been the subject of a number of other recent research reports. Analysts at Barclays reiterated an “underweight” rating on shares of BP plc in a research note on Thursday, July 3rd. They now have a GBX 600 ($10.29) price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of BP plc in a research note on Wednesday, July 2nd. They now have a GBX 495 ($8.49) price target on the stock. Finally, analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of BP plc in a research note on Tuesday, July 1st. They now have a GBX 500 ($8.58) price target on the stock. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of GBX 498.88 ($8.56).
BP p.l.c. (LON:BP) is an integrated oil and gas company.
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