Aker BP Forecast Boosted by Higher Oil Prices, but Valuation Multiple Remains Questionable

Aker BP has received an upgraded forecast from AlphaValue/Baader Europe, which assumes higher oil and gas prices. The broker expects Brent crude to reach $91.5 a barrel in 2026 and $78 in 2027, along with slightly higher European natural-gas prices.

The revised forecast also takes into account the company's production growth, driven by projects such as Skarv Satellites, Yggdrasil, and Valhall..alhall PWP-Fenris. As a result, AlphaValue/Baader Europe has increased its earnings per share estimates to $4.46 for 2026 and $3.77 for 2027.

However, despite the upgraded forecast, the broker maintains a sell rating and a price target of 328-kroner, unchanged from its previous estimate.