bp: UBS raises target price
(CercleFinance.com) - Following the announcement of its Q1 2022 results, UBS highlights the increase in cash flow and shareholder return despite the group's withdrawal of Russia.
The analyst therefore confirms a buy rating on the stock, with an increased target price of 470p (from 450p) - due to better Q1 results and increased buybacks.
The group includes impairment charges totalling 25.5 billion dollars, reflecting the disposal of its 19.75% stake in Russian energy giant Rosneft and the withdrawal from its Russian operations.
Adjusted recurrent profit reached 6.2 billion dollars, more than double the 2.6 billion dollars in Q1 2021, and well above the consensus of 4.5 billion dollars.
bp shares are currently up about 0.8%, respectable performance in a London market that is down about 0.5%.
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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 therefore confirms a buy rating on the stock, with an increased target price of 470p (from 450p) - due to better Q1 results and increased buybacks.
The group includes impairment charges totalling 25.5 billion dollars, reflecting the disposal of its 19.75% stake in Russian energy giant Rosneft and the withdrawal from its Russian operations.
Adjusted recurrent profit reached 6.2 billion dollars, more than double the 2.6 billion dollars in Q1 2021, and well above the consensus of 4.5 billion dollars.
bp shares are currently up about 0.8%, respectable performance in a London market that is down about 0.5%.
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.