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Research Alert: CFRA Maintains Sell Opinion On Shares Of Bp P.l.c.
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Research Alert: CFRA Maintains Sell Opinion On Shares Of Bp P.l.c.
Apr 28, 2026 3:47 AM

06:20 AM EDT, 04/28/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target price for BP to USD35 (from USD30) on revised EPS forecasts, based on a 2026 P/E of 7.8x, which reflects the five-year average. BP's Q1 2026 RC profit of USD3.2B (+2.1x Y/Y) was within market expectations but exceeded ours, coming in at 25% of the consensus 2026 estimate and 47% of ours. This represents a dramatic reversal from Q4's weakness, which declined 30% sequentially from Q3 2025, as Q1 2026 was boosted primarily by exceptional oil trading contributions and significantly higher realized refining margins of USD16.9/bbl versus Q4's USD15.2/bbl. Hence, we raise our EPS forecasts to USD4.47 (from USD2.74) for 2026 and USD4.02 (from USD2.82) for 2027 on higher crude oil and refining margin assumptions. We maintain a Sell rating on expectations of an oil price downcycle in 2027 after conflict-led elevated levels currently coupled with the stock's positive correlation to Brent crude oil price movements.

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