07:54 AM EDT, 07/15/2026 (MT Newswires) -- Berenberg bumped up its price target and earnings forecasts for BP (BP.L) to 6 pounds sterling from 5.90 pounds following the British oil and gas giant's upbeat second-quarter trading statement. In a note published Wednesday, the research firm highlighted another "exceptional" three-month period for trading at BP's downstream segment, supported by robust refining and marketing margins. "Cash flow generation also appears to be strong, despite a working capital build. Management's focus remains on reducing net debt, and there appears to be good progress in the quarter, in our view. The company is guiding to net debt (before leases) falling to $22bn-23bn (down by $2.8bn qoq to the midpoint), while $2.9bn of hybrids were redeemed in the quarter and the company paid $1.1bn of Gulf of America liabilities," analysts wrote, reaffirming the buy recommendation on the stock. The adjusted EPS estimates were raised by 8.8% for 2026, 1% for 2027 and 0.9% for 2028.

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