JPMorgan upgrades BP stock and lifts its target to GBp 675

Published on 10/01/2026 at 12:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BP stock delivered adjusted earnings per share of USD 2.22 in the second quarter. It costs EUR 6.39 on October 1, 2026 after EUR 6.47.

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BP (ISIN GB0007980591) was trading at EUR 6.39 at Lang & Schwarz on October 1, 2026 at 12:47 p.m. CEST, down 1.24 percent from the EUR 6.47 prior close. According to Morningstar on September 23, 2026, JPMorgan upgraded BP from Neutral to Overweight and raised its price target from GBp 550 to GBp 675.

JPMorgan targets balance-sheet repair

The JPMorgan call puts BP's debt reduction at the center of the investment case. The analysts said BP's financial obligations could fall 50 percent by the end of 2027, bringing gearing closer to European peers, according to the Morningstar report dated September 23, 2026.

The target change is material in pence terms: GBp 675 is 22.73 percent above the previous GBp 550 target. That comparison is separate from the euro quotation in Germany, which uses the Lang & Schwarz price and its own prior-close reference.

Second-quarter earnings beat forecasts

According to Investing.com on September 23, 2026, BP posted adjusted earnings per share of USD 2.22 for the second quarter of 2026, above the USD 1.51 consensus estimate. Revenue reached USD 69.11 billion in the same quarter, exceeding the USD 61.79 billion forecast.

The earnings comparison gives the rating change a fundamental anchor, but it also raises the importance of execution. A target based on lower leverage depends on asset sales, cash generation and capital discipline rather than on the quarterly earnings beat alone.

BP stock stays tied to energy risk

Yahoo Finance reported on September 29, 2026, that 19 brokers covered BP with an average 12-month target of GBp 635.10, while individual forecasts ranged from GBp 508.80 to GBp 726.30. The same report linked the near-term outlook to energy prices and Middle East developments, keeping commodity exposure as a counter-factor to the deleveraging thesis.

Euro quote turns lower

BP stock was trading at EUR 6.39 at Lang & Schwarz on October 1, 2026 at 12:47 p.m. CEST, down 1.24 percent versus the EUR 6.47 prior close. The further course of trading is shown by the continuously updated real-time quote of BP stock.