BP Faces Price Forecast Cuts As Analysts Flag Weak Earnings And Rising Debt Challenges

Analysts cut the price target on BP p.l.c. BP following the company’s third quarter results reported on Tuesday.BP’s revenue fell short at $47.25 billion, below the$52.56 billion consensus, with oil production down 6% year over year.For FY24, BP continues to expect both reported and underlying upstream production to be slightly higher than the prior year. Meanwhile, the company continues to expect $25 billion of divestments and other proceeds from the second half of 2020 through 2025.RBC Capital Markets an ...