Jefferies Upgrades BP (BP) to Buy On Likely Macondo Settlements, Raised Dividend
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Price: $44.76 -0.84%
Rating Summary:
22 Buy, 14 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
22 Buy, 14 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies upgraded BP (NYSE: BP) from Hold to Buy in its first upgrade of the shares since the Macondo disaster in 2010.
The firm comments, "We expect the forthcoming opening of the Macondo legal process in February to provide a further incentive for the major parties in the litigation to settle out of court, while BP should demonstrate good free cashflow growth in 2012, potentially enabling dividends to be increased."
For an analyst ratings summary and ratings history on BP click here. For more ratings news on BP click here.
Shares of BP closed at $44.06 yesterday.
The firm comments, "We expect the forthcoming opening of the Macondo legal process in February to provide a further incentive for the major parties in the litigation to settle out of court, while BP should demonstrate good free cashflow growth in 2012, potentially enabling dividends to be increased."
For an analyst ratings summary and ratings history on BP click here. For more ratings news on BP click here.
Shares of BP closed at $44.06 yesterday.
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