Grupo Santander Downgrades BP p.l.c. (BP) to Neutral from Outperform

BP p.l.c. (NYSE:BP) is one of the best cheap stocks under $50 to buy right now. BP p.l.c. (NYSE:BP) was downgraded to Neutral from Outperform by Grupo Santander on February 26, with the firm setting a price target of 520 GBp. BP p.l.c. (NYSE:BP) also received a rating update from JPMorgan on February 25, with the firm lifting the price target on the stock to 500 GBp from 470 GBp and maintaining a Neutral rating on the shares.

In another update, BP p.l.c. (NYSE:BP) was downgraded to Sell from Hold by Freedom Capital on February 12. The firm kept the price target unchanged at $37, and told investors that it views the company’s fiscal Q4 results as soft, with BP p.l.c. (NYSE:BP) even suspending its share repurchase program amid weaker oil prices. According to the firm, further oil market weakness in 2026 could weigh “materially” on BP’s earnings. The same day, HSBC also downgraded BP p.l.c. (NYSE:BP) to Reduce from Hold, adjusting the price target to $35.10 from $38.10. The firm believes that while the company is making the right strategic moves, the payoff is “years away”.

Headquartered in London, United Kingdom, BP p.l.c. (NYSE:BP) is an integrated oil and gas company that provides carbon products and services. Its operations are divided into the Gas and Low Carbon Energy, Oil Production and Operations, and Customers and Products segments.

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Disclosure: None. This article is originally published at Insider Monkey.