BP Rated Outperform at Mizuho, Targeting 22% Upside on Upstream Pivot

Mizuho initiated coverage of BP Plc with an Outperform rating.

The bank set a $51.00 price target, suggesting a potential 22% upside for the stock.

Analysts cited BP's strategic pivot away from renewables and back toward upstream cash flow growth.

The firm also highlighted BP's strong well productivity, high dividend yield, and discounted valuation.

Separately, BP agreed to sell its Austrian mobility and EV charging businesses to volenergy AG.

The transaction includes 250 retail sites across Austria.

This sale supports BP's strategy to simplify operations and focus capital allocation.

The deal is expected to close by the end of 2026, subject to regulatory approvals.