Oddo points out that adjusted EBIT came to $7,049m, in line with expectations with a slight positive surprise on adjusted net income, group share, which was up 2.5%, which is higher than its expectations and the consensus of 4,065bn $.
‘BP also presented its strategy where it aims to increase its EBITDA by $37.9 billion 41-48 in 2030 billion, driven by the transition, despite the planned drop in production,’ indicates the analysis office.
‘ BP maintains its Capex discipline with a target of $14-15 billion and promises to return 60% of the surplus cash to shareholders, which amounts to $4.15 billion in 2021 and will probably be higher in the coming quarters with Brent continuing to rise. ascension’ adds the analyst.
Oddo confirms its Neutral opinion and the price target of 410 p following this publication.
Copyright (c) 2022 CercleFinance.com. All rights reserved.