Key Highlights:
- Legal & General votes against BP's chairman due to increased focus on fossil fuels.
- Analyst forecasts indicate a potential 26.85% upside for BP shares.
- BP's shift in strategy is viewed as a long-term portfolio risk.
Legal & General, a prominent shareholder in BP (BP, Financial), is taking a stand against the company's recent strategic shift. The investment giant plans to vote against the re-election of BP's chairman, Helge Lund, citing the company's intensified focus on fossil fuels over green initiatives. This move highlights concerns about the long-term risks that such a strategy may pose to investment portfolios.
Wall Street Analysts Forecast
BP PLC (BP, Financial) has caught the attention of analysts, with 15 experts weighing in on its prospects. The consensus one-year price target stands at $35.09, with projections ranging from a high of $41.00 to a low of $27.00. This average target suggests a significant upside potential of 26.85% from BP's current trading price of $27.66. Investors seeking more in-depth price target data can refer to the BP PLC (BP) Forecast page.
Additionally, BP enjoys an "Outperform" recommendation based on insights from 18 brokerage firms, reflected in an average brokerage recommendation score of 2.5. This scoring system spans from 1 (Strong Buy) to 5 (Sell), positioning BP in a favorable light for potential investors.
Turning to GuruFocus estimates, BP PLC's estimated GF Value for the upcoming year is pegged at $35.06. This analysis forecasts a potential upside of 26.75% from BP's current market price of $27.66. The GF Value is a reflection of the fair trading value based on historical trading multiples, past growth, and future business performance estimates. For further detailed data, visit the BP PLC (BP, Financial) Summary page.
