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JP Morgan upgrades BP, sees 25% upside with improved balance sheet and growth prospects

Analyst Insights
23 Sep 2026
Proactive Investors
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Bullish
JP Morgan upgrades BP, sees 25% upside with improved balance sheet and growth prospects

JP Morgan has upgraded BP PLC to 'overweight' and raised its price target by 20% to 675p, indicating a potential 25% upside. The bank highlights BP's efforts to repair its balance sheet, expecting debt reduction to accelerate from mid-2026 and gearing to normalize by end-2027, assuming Brent oil prices stay below $75 per barrel. Additionally, JP Morgan values BP's restructuring as a driver for steady earnings growth and sees improving growth options for the 2030s, supported by competitive refining and trading operations. This upgrade reflects a positive outlook on BP's strategic renewal and reduced sensitivity to oil price cycles.

JP Morgan's upgrade of BP is the subject here, with Pluang's Energy sector data providing context. Of 38 priced US Energy stocks on Pluang, 22 rose and 15 fell. Notable prices include TDW at USD 86.52 with a -0.73% change, COP at USD 124.51 with a -0.61% change and a 98% buy order activity, and FSLR at USD 201.94 with a +0.58% change and 83% sell order activity. This snapshot is as of Sep 23, 2026 15:51 WIB.

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