(CercleFinance.com) – Royal Bank of Canada maintained its ‘outperform’ opinion on bp on Wednesday, with a price target of 525 pence, following an interview with the group’s chief financial officer, Murray Auchincloss.
In a research note, the broker points to a ‘constructive’ message from the senior executive, who confirmed the firm’s focus on its ‘discipline’ in capital and mitigating inflationary pressures.
‘The virtuous circle resulting from the strength of commodity prices and which makes it possible to support free cash flow, repay debt and offer shareholders remuneration above market standards seems to be on track to continue on the ‘financial year 2023’, promises RBC.
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