JPMorgan upgraded BP Plc to Overweight from Neutral.
The bank raised its price target by 20%. The new price target is £675. This is an increase from the previous £550 level. The revision suggests a potential 25% upside for the stock.
The upgrade reflects BP's efforts to repair its balance sheet. Analysts expect accelerated debt reduction to begin in mid-2026. Restructuring efforts should drive steady earnings growth.
The firm also noted improving growth options for the 2030s. JPMorgan projects BP's gearing metrics will align with industry peers by late 2027. This projection assumes Brent oil prices remain below $75 per barrel.