UPDATE: Morgan Stanley Downgrades BP (BP) to Underweight

March 30, 2021 4:39 PM EDT
Get Alerts BP Hot Sheet
Price: $25.18 -0.08%

Rating Summary:
    22 Buy, 8 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
Trade Now! 
Join SI Premium – FREE
(Updated - March 30, 2021 4:42 PM EDT)

Morgan Stanley analyst Martijn Rats downgraded BP (NYSE: BP) from Equalweight to Underweight.

The analyst comments "BP is pivoting sharply towards renewables, but unlike other majors, also moves sharply away from oil & gas production. Speed of the changes that BP is planning creates a degree of uncertainty for investors: even if BP is successful, earnings and cash flow over next decade are hard to estimate. Uncertainty is compounded by company indication that dividends will not grow in coming years, even if its strategy is successful. We forecast near-term dividend growth to be minimal, although expect a return to 1-2% growth over the medium/long-term."

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 $25.18 yesterday.


You May Also Be Interested In





Related Categories

Analyst Comments, Downgrades, Hot Comments, Hot Downgrades

Related Entities

Morgan Stanley, Earnings