UPDATE: Morgan Stanley Upgrades BP (BP) to Overweight

September 5, 2018 5:02 AM EDT
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Price: $35.53 -0.78%

Rating Summary:
    24 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 8 | New: 14
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(Updated - September 5, 2018 6:39 AM EDT)

(updated to add analyst comment)

Morgan Stanley analyst Martijn Rats upgraded BP (NYSE: BP) from Equalweight to Overweight.

The analyst views the upcoming CapEx cycle as positive and notes recent nonperformance of the equity in recent months as investors digest the BHP acquisition. He says the company continues to stand out among European majors given his high dividend yield and underappreciated FCF growth prospects.

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 $42.72 yesterday.

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