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Updated · Bloomberg · May 11BP Doubles Buy Ratings After 24% Rally as RBC Upgrades Shares to Outperform
3 articles · Updated · Bloomberg · May 11
- RBC Capital Markets on Monday upgraded BP to outperform, adding to a sharp turn in sentiment toward the UK energy major.
- Buy recommendations on BP have doubled over the past year, reversing a period when analysts were urging clients to avoid the stock.
- BP shares have already climbed 24% in 2026, and analysts now see further upside after the rebound.
- The shift marks a notable comeback for BP, which a year ago was sliding and broadly out of favor on the Street.
Is BP's pivot to oil a strategic masterstroke or a dangerous bet against the world's green energy transition? BP's recovery relies on high oil prices. What happens to its stock if the Middle East conflict ends? Can new CEO Meg O'Neill's overhaul truly fix BP's massive debt and uncompetitive cost base?