BP price target raised to 625 GBp from 550 GBp at RBC Capital

RBC Capital analyst Biraj Borkhataria raised the firm’s price target on BP to 625 GBp from 550 GBp and keeps an Outperform rating on the shares. The company’s share price has lagged peers following two disappointing sets of results and the departure of its CEO, the analyst tells investors in a research note, but the firm contends that the current share price undervalues the business. With sentiment having turned much more negative recently, BP offers an “attractive opportunity” for investors, RBC adds.