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BP reinstated with Buy rating at BofA/Merrill

  • BP (BP +1.1%) is reinstated at BofA/Merrill with a Buy rating and an implied $52 price target, as one of the top picks in the firm's global supermajor oil peer group.
  • The firm believes BP offers a combination of best in class shareholder returns, free cash flow coverage and near-term visibility on operating cash flow recovery, yet the shares trade in-line with Shell.
  • Another positive factor cited is that BP’s expected gearing should offer further cushions in the event of falling commodity prices, or for enhanced shareholder returns; BP’s Gulf of Mexico spill also is believed to be cushioned.
Comments (6)
  • deercreekvols
    , contributor
    Comments (5152) | Send Message
    I am with you, BAHAMAS1, and (BP).


    There have been a few of us that continued to beat the drum for BP when all the negative "news" was out there.


    Long BP and adding more today.
    27 Mar, 12:02 PM Reply Like
  • Ludo5312
    , contributor
    Comments (80) | Send Message
    $52 is still pretty low, looking at the fundamentals of BP. It is also barely the 'consensus' price. Nevertheless, conservatively calculated in combination with the dividend that still represents a 15%/year appreciation.
    27 Mar, 12:17 PM Reply Like
  • rainmn60016
    , contributor
    Comments (63) | Send Message
    how about the lake Michigan oil spill?
    27 Mar, 12:54 PM Reply Like
  • 2839298249
    , contributor
    Comments (221) | Send Message
    rainmn60016: Coast Guard: BP estimates Indiana refinery released 9 to 18 barrels of oil into Lake Michigan.


    Don't think 9-18 barrels even warrants discussion.
    27 Mar, 01:25 PM Reply Like
  • deercreekvols
    , contributor
    Comments (5152) | Send Message
    Latest update on Lake Michigan



    Where is the outrage over the Port of Houston being closed due to a spill that was not BPs fault?
    27 Mar, 03:04 PM Reply Like
    , contributor
    Comments (1801) | Send Message
    Agree, but lets take it where we can get it (and buy more while it's still cheap )!
    Further upgrades will come.


    I guess the current politicians have BP as the ONLY designated free bank.
    This too shall pass.
    27 Mar, 06:34 PM Reply Like
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