BofA downgraded BP (BP) to Underperform from Neutral with a price target of 375 GBp, down from 440 GBp. Lower oil and gas prices and deflating refining margins will “leave the sector grappling for more FCF cushions than it is already sitting on” and the firm sees “fewer inorganic cushions available that are not already discounted in elevated share prices,” the analyst tells investors in a European oil and gas look ahead note for 2026.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BP:
- Midday Fly By: Meta to slash metaverse spending, Salesforce posts Q3 beat
- BP in talks to sell $8B Castrol lubricants unit to Stonepeak, FT reports
- Midday Fly By; Kalshi hits $11B valuation, MongoDB reports Q3 beat
- BP withdraws application for hydrogen project in England, WSJ reports
- BP Announces Total Voting Rights and Share Capital as of November 2025