bp: RBC still a buyer
(CercleFinance.com) - On Wednesday Royal Bank of Canada maintained an "outperform" rating on bp shares, along with a target price of 525p, following a meeting with the group's CFO.
In a report, the broker said the executive's message was "constructive" and confirmed the company's focus on capital "discipline" and easing inflationary pressures.
The broker note a virtuous circle of strong commodity prices supporting free cash flow, debt repayment and above-market shareholder returns, which look set to continue into FY 2023.
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