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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%)
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Broker tips: BP, Rio Tinto, TUI Travel

Tue, 04th Dec 2012 10:59

Jefferies has retained its 'hold' rating and 450p target price for oil titan BP despite the stock trading at a large discount to the sector, saying that the business is 'yearning to be free' from the Macondo well disaster."Post-Macondo it is evident that BP is evolving into a simpler and more oil focused entity," the broker said."Although there were no significant changes to BP's previous guidance in the period to 2014, BP held out the likelihood of higher-margin volume growth resuming from 2014, plus the reiteration of its 50% growth in cashflow to 2014, which should underpin more rapid dividend growth than peers."Credit Suisse has reiterated its 'outperform' rating for mining giant Rio Tinto, saying that the group's cost determination is impressive.The broker has upgraded its earnings forecasts for this year and the next by 5% and 13%, respectively, on the back of cost savings, higher copper volumes and mineral sands earnings.Investec has hiked its price target for travel group TUI Travel from 170p to 270p following the group's full-year results announced on Monday morning.The broker said that TUI "performed well" in the year to September 30th, as it benefitted from strong operations, negative competitor publicity, supportive wet weather in Northern Europe and negligible disruptions (air traffic/crew strikes, inclement destination weather, geopolitical issues).BC
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