08:05 AM EDT, 10/09/2026 (MT Newswires) -- Berenberg revised its price target and estimates for BP (BP.L) amid expectations that the company will report higher underlying replacement cost profit for shareholders in the third quarter. "Our current estimates for Q3 are broadly in line with consensus at the adjusted net profit level. We expect the Gas & Low Carbon Energy segment to benefit from a stronger trading environment, which could offset the lower oil price in the quarter. Meanwhile, Oil Production & Operations is likely to be weaker qoq, reflecting the lower Brent oil price," analysts said in a report focused on the oil and gas sector published Friday. "We do not expect any change to the shareholder returns to be announced at Q3, with a stable dividend and no buyback." The underlying replacement cost profit for BP shareholders for the quarter is forecast to reach $5.52 billion, higher than the year-ago $2.21 billion and the Visible Alpha consensus of $5.35 billion. Adjusted EPS is also anticipated to rise year over year. Against this backdrop, the research firm bumped up the price target to 6.50 pounds sterling from 6.05 pounds while maintaining the stock's buy rating. The adjusted EPS estimates for 2026 through 2028 were increased as well. BP is due to release its third-quarter trading statement and earnings report on Oct. 13 and Oct. 30, respectively.

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