- Category: Share Price Drivers
- Published on Wednesday, 06 February 2013 10:03
- Written by Will Peters
Stocks in Focus: BG Group plc (LON:BG) + BP plc (LON:BP) + BP plc (ADR) (NYSE:BP)
Article Brief: Analysts confirm their forecasts for the future direction of BP and BG Group.
The past 24 hours have seen a host of analysts reiterated their calls on where these two oil majors are headed.
Starting with BP we note UBS are a Buy with TP at 500.
JP Morgan Cazenove are Overweight on the stock with their target set at 525.
Nomura are Neutral and are targeting 455 while Bank of America Merrill Lynch will keep their Buy and target price at 540.
Jefferies International are staying on Hold, TP at 450 while Deutsche Bank are a Buy with their target at 500.
Exane BNP Paribas keep their Outperform call while aiming for 575.
Where is BG headed?
BG Group is reiterated as a Buy with UBS who have kept their target share price at 1400.
Citigroup are a Buy with a target price at 1380.
Nomura keep their Buy and target of 1500.
Jefferies International also remain a Buy with a more bullish target of 1700.
We see Exane BNP Paribas are maintaining their Outperform call with a TP at 1470.
Elsewhere: Asda drops their frozen burgers delivered by Freeza Meats
The horse-meat scandal continues to pique our interest here at The Economy News. The latest twist in the tail sees Asda remove frozen burger products from Freeza Meats as a “precaution” following the discovery of meat containing 80% horse at the Northern Ireland processor.
The supermarket said that its own DNA tests and those carried out by environmental health officers on the four burger products supplied by the plant had come back “free of any trace of horse meat”.
However, it added: “Although all the science says there’s no trace of horse meat in the burgers produced for Asda, we can’t and won’t take any chances when it comes to the authenticity of ingredients in our products – so as a precaution we’ve taken all four frozen burger products off sale.”
Rebound in stocks looks to be continuing today
The rebound in stocks does look to be continuing this morning as the FTSE gains more momentum taking it back above 6300 at the time of writing. It looks like London stocks are keen to match the US indices by getting back towards their highs for the year so for the bulls the resistance seen around 6350 is the next near term hurdle.
Ahead of the European Central Bank interest rate meeting due to take place tomorrow, the shared currency resumed its rally versus the greenback, climbing 65 pips to 1.3577.
"If investors were wondering whether a higher euro could damp a European economic recovery (as French President Hollande suggested) it appears the ECB officials are not too worried but rather content with the current level. At the time of writing the single currency is trading at 1.3535 against the greenback," says Angus Campbell at Capital Spreads.
Tags: BG Group plc (LON:BG) + BP plc (LON:BP) + BP plc (ADR) (NYSE:BP)
Newer news items:
- Dell Inc. on its way to open a new chapter in the IT industry ref. (NASDAQ:DELL) - 06/02/2013 14:59
- Research In Motion Ltd (BBRY): BlackBerry teams-up with Trend Micro to boost malware protection on 3rd party apps - 06/02/2013 13:08
- Facebook Inc (NASDAQ:FB): Technical signals show a deeper correction could be in the offing for FB - 06/02/2013 12:44
- Apple Inc. (NASDAQ:AAPL) pips Amazon.com, Inc.(NASDAQ:AMZN) from top spot as UK's most visible site for Brown Goods - 06/02/2013 12:18
- Apple Inc. (NASDAQ:AAPL): 'Staggering' 594 pct increase in iPhone searches while Research In Motion Ltd (NASDAQ:BBRY) sees waning interest - 06/02/2013 12:14
Older news items:
- Royal Bank of Scotland plc (LON:RBS) push resolutely higher in face of negative news barrage - 06/02/2013 09:47
- ARM Holdings plc: Brokers upgrade their bets on where the LON:ARM share price is headed - 06/02/2013 09:04
- S&P 500 (INDEXSP:.INX) signals produce 'fantastic opportunity' to sell the Euro / Dollar - 05/02/2013 11:57
- Barclays plc, RBS: Can today's recovery be extended in the short-term? BARC seen as more bullish than RBS - 05/02/2013 11:15
- ARM Holdings plc: Sell ARM as "The stock is expensive and we remain cautious" ref. LON:ARM - 05/02/2013 10:36
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