Wolfe Research analyst Doug Leggate reiterated an Outperform rating and $50 price target on BP (BP) following the company’s Q4 trading statement. The firm said there were “no surprises” from the statement, noting that its earnings per share estimate remains unchanged. In summary, Wolfe sees the update commodity led with what otherwise looks like an uneventful operating quarter, and with shares lower on the day the firm suggests street reaction is to a two-week delay to its planned strategy update.
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