Added to YB: 2024-04-10
Pitch date: 2024-04-09
BP [bullish]
BP p.l.c.
-7.05%
current return
Author Info
No bio for this author
Company Info
BP p.l.c., an integrated energy company, provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments.
Market Cap
GBP 92.4B
Pitch Price
GBP 4.71
Price Target
60.00 (+1266%)
Dividend
5.52%
EV/EBITDA
4.55
P/E
63.72
EV/Sales
0.82
Sector
Oil, Gas and Consumable Fuels
Category
value
BP: Refueling The Cash Engine (Rating Upgrade)
BP: Raising to Overweight with $60 target (54% upside). Shares underperformed peers since initiation on bpx weakness. Recent management shift towards pragmatic transition and peer-leading 80% FCF payout (12% yield) are catalysts. 25E EBITDA targets imply stock at 45% discount to peers (2.5-2.7x vs 4.9x). Low reserve life post-Rosneft a risk. NAV + downstream SOTP points to $60 fair value after EU discount.
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