Dec. 6 at 12:04 AM
BP downgraded to underperform by Bank of America
Bank of America has downgraded
$BP
to underpeform and slashed its price target for the oil major.
“We believe BP’s share price recovery from the lows reached in early 2025 has largely benefited from the triumph of sentiment over fundamentals,” analysts led by Christopher Kuplent told clients in a Friday note.
“However, we believe significant execution risks from delivering BP’s positive narrative into value creation on the ground remain – and are no longer adequately reflected in BP’s share price,” Kuplent said.