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Consider BP, before oil hits triple digits, again |
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| Oct 23, 2009 10:00 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: BP p.l.c. ADS (BP), Stocks to Buy  Whatever happened to those forecasts for $20-30 oil? Oil, which traded Friday at about $80 per barrel, is up more than 100% in the past 12 months, and the U.S./global economic recoveries have just started, which is why I'm reiterating my Buy rating for BP plc (NYSE: BP), first recommended on March 26, 2009 at a price of $41.72. If you bought BP then, you're up about 30%.After a challenging 2009, look for BP to improve its fundamentals over the next 2-4 years, with continued, superior oil/natural gas reserve replacement, and restructured, more-efficient downstream operations. Revenue will total only about $220-$230 billion in FY2009, but will rebound to better than $300 billion in FY2010 -- and the latter assumes only a $55-65 per barrel oil price: crude will likely average a much higher price in 2010, assuming the global recovery does not stall. Continue reading Consider BP, before oil hits triple digits, again Consider BP, before oil hits triple digits, again originally appeared on BloggingStocks on Fri, 23 Oct 2009 17:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
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