This oil giant has lagged its leading rivals through two energy crises. Now one Wall Street giant says it's time to buy.

JPMorgan upgraded BP to Overweight with a 675p price target, citing macro tailwinds and restructuring. TotalEnergies was downgraded to Neutral due to Middle East risks and political factors. BP's free cash flow yield is estimated at 11% by 2027, while TotalEnergies' is 9.0%.

A U.S. judge dismissed Michigan's antitrust suit against BP PLC, ruling the plaintiffs failed to prove alleged conspiracy caused claimed energy overcharges. Separately, BP sold its stake in the Sapref refinery to Central Energy Fund for 1 rand, exiting the asset.

JPMorgan upgraded BP (NYSE:BP) to Overweight, raising its price target to GBP6.75. BP's stock is down 5% in the past week but up 29% year-to-date. The firm expects BP's balance sheet repair to drive value, with a projected 11% free cash flow yield by 2027. BP recently reported stronger-than-expected Q2 2026 earnings and revenue, and has made asset sale agreements with Shell and Woodside Energy.

JP Morgan upgraded BP plc to 'Buy' based on a weighted average of ratings including valuation, EPS revisions, and visibility. The company's stock has seen a 5-day change of -0.11% and a 1st Jan change of -6.55%, with a 25.30% increase over a longer period.

JPMorgan admits uncertainty about oil market's direction due to Iran conflict, with key economic indicators crossed. Analysts highlight Chevron (CVX) as a top pick, with Goldman Sachs raising its target to $240. BP (BP) is also noted for its evolving strategy and potential. Smaller cap Crescent Energy (CRGY) is recommended by Truist with a $19 target. Refiners like Valero (VLO), Marathon Petroleum (MPC), and others are near record highs.

BP has agreed to sell its French electric vehicle (EV) charging business to Sorégies, according to a company spokesperson. The deal is part of BP's strategy to streamline its operations and focus on core businesses.