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BP Price Target Up as Berenberg Notes Higher Oil Prices, 'Manageable' Exposure to Middle East Conflict
Berenberg has increased its price target for BP shares from 550 pence to 580 pence, maintaining a ‘buy’ rating. This adjustment reflects analyst Stuart Joyner’s revised oil price assumptions and his view that BP’s exposure to Middle East conflict risks is “manageable.” The firm believes BP’s valuation remains attractive, trading at a discount compared to its European peers.