March 11, 2010
Drill Baby, Drill
BP Still Undervalued, Predicted to Outperform by ValuEngine
BP p.l.c. (BP) provides fuel for transportation, energy for heat and light, retail services,and petrochemicals products.ValuEngine has issued a BUY recommendation for BP PLC. Based on the informationwe have gathered and our resulting research, we feel that BP PLC has the probability toOUTPERFORM average market performance for the next year. The company exhibitsATTRACTIVE company size, volatility and P/E ratio.
This stock is a perennial favorite of our models--as are many large Energy Sector firms. Its long-term forecast figures lookparticularly promising.BP is in the news due to its just announced $7 billion deal with Devon Energy. Thedeal is predicted to provide a boost to its daily oil production and strengthen its presence inBrazil, Azerbaijan, and the Gulf of Mexico. Devon, for its part, gets better access to Canadianoil sands from BP. Early analysis of the effects of this deal indicate that BP may not begin toreap major benefits until 2015. This makes the short-term effects on the firm's bottom lineand share price more difficult to ascertain.Subscribers can check out the latest figures on BP
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