BP price target raised to $42 from $38 at Wells Fargo

Wells Fargo raised the firm’s price target on BP to $42 from $38 and keeps an Equal Weight rating on the shares. The company’s initial quarterly trading statement from a 6-K filing was a “positive development”, and the firm is revising its Q1 estimates on volumes and lower realizations within the upstream segments, the analyst tells investors in a research note.