Jason Gabelman, an analyst from TD Cowen, maintained the Hold rating on BP p.l.c.. The associated price target was raised to p425.00.
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Jason Gabelman has given his Hold rating due to a combination of factors influencing BP p.l.c.’s financial outlook. The company has shown strong downstream results, leading to an increase in the 2Q25 EPS estimate from $0.64 to $0.71 per share, which aligns with the consensus. This improvement is attributed to better refining margins and a positive working capital tailwind.
Despite these short-term gains, Gabelman maintains a Hold rating as the outer-year earnings projections remain unchanged. The decision is also influenced by BP’s ongoing strategic shifts, such as the divestment of its US onshore wind business and updates to its Board. While the company has made progress, uncertainties remain, prompting a cautious approach with a price target increase to $34 based on the net present value of free cash flow through 2030.
According to TipRanks, Gabelman is a 4-star analyst with an average return of 8.4% and a 57.81% success rate. Gabelman covers the Energy sector, focusing on stocks such as Exxon Mobil, Kinder Morgan, and Equinor ASA.
In another report released today, J.P. Morgan also maintained a Hold rating on the stock with a £4.20 price target.