BP has been assigned a Zacks Rank #1 (Strong Buy), with the Zacks Consensus Estimate for the current year rising 14.2% over the past month to $6.94. The upgrade reflects strong agreement among analysts revising earnings estimates higher, which Zacks says could be a legitimate reason for the stock to soar in the near term. Separately, BP carries an average brokerage recommendation of 1.98 on a scale of 1 to 5, based on actual recommendations from 29 brokerage firms, approximating between Strong Buy and Buy. Of those 29 recommendations, 14 are Strong Buy and four are Buy, accounting for 48.3% and 13.8% of all recommendations respectively. Zacks cautions that the ABR is not necessarily up to date and that brokerage analysts carry a positive bias, while the Zacks Rank is driven by earnings estimate revisions and is applied proportionately across all covered stocks.
BP PLCBP assigned Zacks Rank #1 (Strong Buy) as consensus earnings estimate rose 14.2% on analyst upward revisions.
