BP stock draws a Wells Fargo upgrade and USD 57 target
Published on 10/04/2026 at 09:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
BP stock (ISIN GB0007980591) stood at GBp 557.20 on the London Stock Exchange on October 2, 2026, 8.57 percent below its 52-week high of GBp 609.40. The latest catalyst was a Wells Fargo upgrade of BP ADR to Overweight and a target increase from USD 48 to USD 57, reported by Investing.com on October 1, 2026.
Wells Fargo raises the target
The Wells Fargo move puts BP's USD 57 ADR target 27.5 percent above the USD 44.79 ADR price shown for October 2, 2026. The recommendation also reflects a valuation argument: Investing.com said U.K. majors traded at lower 2027 EV to EBITDA multiples than U.S. peers while BP was reducing debt.
The analyst shift followed an earlier call from JP Morgan. According to MarketScreener on September 23, 2026, JP Morgan raised BP from Neutral to Buy and lifted its target from GBp 550 to GBp 675.
Q2 profit strengthens the case
BP's second-quarter 2026 underlying replacement cost profit reached USD 5.732 billion, compared with USD 3.198 billion in the first quarter. That 79.3 percent quarter-over-quarter increase was reported in the company's Q2 and first-half filing summarized by MetaTrader.
Operating cash flow also rose to USD 10.858 billion from USD 2.860 billion in Q1 2026, a 279.6 percent increase. The same filing identifies the measure as operating cash flow and describes underlying replacement cost profit as a non-IFRS figure, so the comparison is between like-for-like quarterly measures.
Next results arrive October 26
BP's next earnings release is scheduled for October 26, 2026, according to the calendar shown by MarketScreener. That report will test whether the Q2 improvement in profit and cash generation can continue while BP executes its debt reduction and portfolio plans.
BP stock stays below its yearly high
BP stock stood at GBp 557.20 on the LSE on October 2, 2026, with a 0.13 percent daily gain, a 52-week range of GBp 399.35 to GBp 609.40, and market capitalization of GBP 86.2 billion.
BP stock market snapshot
- Company: BP p.l.c.
- ISIN: GB0007980591
- Ticker: BP
- Trading venue: London Stock Exchange
- Price (as of October 2, 2026): GBp 557.20
- Market capitalization: GBP 86.2 billion (as of October 2, 2026)
- 52-week range: GBp 399.35-609.40 (as of October 2, 2026)
- Sector / Industry: Energy
