JPMorgan Chase Upgrades BP Stock Rating

A BP rating upgrade from JPMorgan Chase & Co. has given investors more confidence in the company's stock.

The bank upgraded its rating to 'overweight' from 'neutral', which means analysts expect higher returns on investment compared to the rest of the market.

This is not the only positive change for BP, as other analysts have also raised their price targets and ratings in recent weeks. Piper Sandler upped its target price on BP from $43.00 to $46.00 and gave the stock a 'neutral' rating in a report on Thursday, September 3rd.

The company's quarterly earnings results on Monday, August 3rd were also a positive sign, as it reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.35. The business had revenue of $69.11 billion for the quarter, compared to analyst estimates of $57.89 billion.