bp: Oddo raises target price
(CercleFinance.com) - Oddo maintains its "neutral" recommendation on bp shares, having increased its target price for them from 410p to 440p.
The analyst highlights its Q1 results, which came in 22% above expectations, with a pleasant surprise in the form of adjusted net income group share, which came in at 6,245 million dollars, 39% above expectations.
As such, bp has confirmed its guidance growth in group EBITDA from 9-10 billion dollars to 39-46 billion dollars by 2030. The group is now aiming to reduce its debt, one of the highest in the sector (31.5%).
Following this good publication, Oddo analysts are raising their EPS estimates by 17.7% this year to take into account an oil price scenario of 90 dollars/barrel and sustained refining margins of 20 dollars/barrel, Oddo concludes.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The analyst highlights its Q1 results, which came in 22% above expectations, with a pleasant surprise in the form of adjusted net income group share, which came in at 6,245 million dollars, 39% above expectations.
As such, bp has confirmed its guidance growth in group EBITDA from 9-10 billion dollars to 39-46 billion dollars by 2030. The group is now aiming to reduce its debt, one of the highest in the sector (31.5%).
Following this good publication, Oddo analysts are raising their EPS estimates by 17.7% this year to take into account an oil price scenario of 90 dollars/barrel and sustained refining margins of 20 dollars/barrel, Oddo concludes.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.