RBC and Argus Turn Bullish on BP (BP) After Strong Q1 Performance

BP p.l.c. (NYSE:BP) ranks among the top hydrogen stocks to buy now. On May 11, RBC Capital boosted BP p.l.c. (NYSE:BP) to Outperform from Sector Perform, citing rising commodity prices as a potential opportunity for the oil giant to reduce debt to levels in line with competitors.

RBC expects Brent will be $91/bbl in 2026. Under that notion, BP’s all-in net debt-to-CFFO ratio is expected to reduce from 2.2x in 2025 to 0.9x in 2026 and 0.5x by 2027. Moreover, BP p.l.c. (NYSE:BP) predicts production to stay steady in 2026, in contrast to 2025, with capital expenditures ranging from $13.0 billion to $13.5 billion.

The same day, Argus upgraded BP p.l.c. (NYSE:BP) to Buy from Hold and placed a $50 price objective for the company’s shares following solid first-quarter results. The improved first-quarter earnings reflected higher upstream output, higher realized refining margins, and a significant contribution from oil trading.

BP p.l.c. (NYSE:BP) is an integrated oil and gas corporation that provides carbon products and services. It operates in three segments: gas and low-carbon energy, oil production and operations, and customers/products.

While we acknowledge the risk and potential of BP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BP and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1