As previously reported, Morgan Stanley analyst Martijn Rats downgraded BP to Equal Weight from Overweight with a price target of $41.50, down from $49.90. A disappointing trading update following several quarters of weak earnings puts 2025 guidance at risk, the analyst tells investors. The firm says the Energy sector typically performs well when three factors come together – rising oil & gas prices; rising inflation expectations; and rising interest rates. However, at the moment, none of these factors are in place, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BP:
- BP price target lowered to $42 from $47 at Scotiabank
- BP price target lowered to $41 from $42 at Wells Fargo
- BP announces deal with Simon to expand EV charging network in U.S.
- SHEL, BP, TTE: Energy Giants Invest in Adnoc LNG Project
- JPMorgan European oils analysts hold an analyst/industry conference call