Berenberg raises BP target to GBp 715.00. BP stock gains 1.30 percent.

Published on 10/22/2026 at 12:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Underlying replacement cost profit reached USD 5.73 billion in the second quarter. BP stock costs EUR 7.48 on October 22, 2026 versus EUR 7.38 at the Xetra close.

Balance sheet and earnings dates

Berenberg lifted its BP target from GBp 650.00 to GBp 715.00 on October 21, 2026.
Underlying replacement cost profit rose to USD 5.73 billion in the second quarter from USD 3.20 billion in the first quarter.
BP stock trades at EUR 7.48 at 12:04 p.m. CEST at Lang & Schwarz on October 22, 2026, 1.30 percent above the Xetra close of October 21, 2026.
BP is scheduled to publish third-quarter results on October 30, 2026, followed by a strategy update on December 15, 2026.

Gläserne Hochhaus-Fassade in der City of London mit geometrischer Curtain-Wall-Struktur — BP plc GB0007980591 spiegelt sich in moderner Glasfassade eines Konzerngebäudes in London wider, Illustration mit AI erstellt.

BP (ISIN GB0007980591) was trading at EUR 7.48 at Lang & Schwarz on October 22, 2026 at 12:04 p.m. CEST, up 1.30 percent versus the Xetra close of October 21, 2026 at EUR 7.38. Interactive Investor reported on October 21, 2026 that Berenberg raised its BP target from GBp 650.00 to GBp 715.00 and retained a Buy rating.

Berenberg sees more balance-sheet room

The target increase followed BP's progress on debt reduction and its October 13 trading update. BP said net debt at the end of the third quarter was expected at USD 13.5 billion to USD 14.5 billion, compared with USD 22.3 billion at the end of the second quarter, according to Ticker Scout.

That balance-sheet change is central to the analyst case. Berenberg expects stronger cash flow to create room for a possible USD 2.0 billion share-repurchase program in 2027, while BP continues to simplify its portfolio through asset sales.

What does the earnings base show?

BP's underlying replacement cost profit rose to USD 5.73 billion in the second quarter from USD 3.20 billion in the first quarter, a 79.05 percent increase. Operating cash flow reached USD 10.90 billion, while net debt fell from USD 25.30 billion at the end of the first quarter to USD 22.30 billion at June 30, 2026, according to Quartr. The figures show why debt, rather than profit alone, is the key measure for the next update.

Three events shape the story

On April 1, 2026, Meg O'Neill became chief executive officer; on September 2, 2026, BP appointed Ian Tyler as chair; and on October 13, 2026, BP guided to third-quarter net debt of USD 13.5 billion to USD 14.5 billion. These events and figures are summarized from BP filings by Ticker Scout.

Which dates come next?

BP is scheduled to publish its third-quarter results on October 30, 2026, followed by a strategy and outlook update in New York on December 15, 2026, according to Ticker Scout. The results will test whether higher refining margins and lower debt can offset the USD 3.0 billion to USD 4.5 billion of post-tax impairment charges BP flagged for the third quarter.

BP stock keeps the balance-sheet test ahead

On the LSE, BP was last at GBp 624.60 on October 22, 2026 at 11:08 a.m. London time. The next valuation signal will come from the October 30 results and the company's debt trajectory.

The further course of trading is shown by the continuously updated real-time quote of BP stock.