BP Faces Price Forecast Cuts As Analysts Flag Weak Earnings And Rising Debt Challenges
BP(BP) Benzinga·2024-10-31 01:52
Analysts cut the price target on BP p.l.c. BP following the company’s third quarter results reported on Tuesday.BP’s revenue fell short at $47.25 billion, below the $52.56 billion consensus, with oil production down 6% year over year.For FY24, BP continues to expect both reported and underlying upstream production to be slightly higher than the prior year. Meanwhile, the company continues to expect $25 billion of divestments and other proceeds from the second half of 2020 through 2025.RBC Capital Markets an ...