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Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

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Share Price: 510.40
Bid: 509.40
Ask: 509.50
Change: 0.00 (0.00%)
Spread: 0.10 (0.02%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 510.40
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Broker tips: BP, Kazakhmys, Premier Foods

Fri, 16th Dec 2011 12:52

Evolution Securities has reiterated its buy rating on oil titan BP, highlighting today's $250m settlement with Cameron International Corporation and rumours of farm-in talks with Ophir Energy.Analyst Richard Griffith said: "Although the figure is relatively modest...it is an acknowledgement from another party that the accident was multi-faceted with multiple partners to share the blame."Furthermore, Griffith mentions reports from the Daily Telegraph that BP is in discussions with Ophir Energy regarding a farm-in agreement at Ophir's Tanzanian acreage. He thinks that it would make more sense for BP to snap up Ophir outright than to farm-in to its operations.The broker sticks with a 510p target price, but says that this is at the lower-end of a valuation range where the upside is 771p per share.Evolution Securities has kept its 'add' recommendation on mining giant Kazakhmys following the news that it has secured funding for all of its development projects.Kazakhmys announced today that it has signed a memorandum of understanding with the China Development Bank Corporation for a $1.5bn loan facility which is to be used for the development of its Aktogay copper project in East Kazakhstan.The broker thinks that the stock is "markedly undervalued" in relation to the wider mining sector, trading at just four times prospective earnings, compared to Antofagasta which trades at an earnings multiple of eleven.A 1,260p target price is kept.Investec has kept its buy rating on FTSE 250 foods group Premier Foods following last night's announcement that it will dispose of its four Irish Brands."Another week, another disposal at fast-changing Premier Foods," writes Investec analyst Martin Deboo."While the disposal of the Irish brands is neither as lucrative nor as pivotal as last week's exit from Brookes Avana, it still represents a further cash realisation and tidying-up exercise," he said.Investec says its remains happy with its buy case, 15p target price and "the pace of progress being made".BC
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