$BP

BP reportedly walked away from a potential $4.5 billion deal for Devon Energy's Eagle Ford Shale assets, according to Reuters. Devon faces pressure from activist investors to sell assets or the entire company. Devon's stock fell 3.6% on the news, while BP's stock declined 0.4%.

Devon Energy (DVN) is marketing its Eagle Ford and Powder River Basin assets, valued between $3.5B and $4.5B, after its $58B merger with Coterra. BP (BP) is reportedly considering a bid for Devon's Eagle Ford operations, which produced 77,000 boepd in Q2. BP aims to expand its U.S. shale presence, with CEO Meg O'Neill exploring growth opportunities.

Wall Street analysts highlighted energy, AI infrastructure, and agriculture as key themes. BP (BP) and Chevron (CVX) were upgraded, while TotalEnergies (TTE) saw mixed views. Marathon Petroleum and Akamai (AKAM) were noted for AI infrastructure. Deere & Company (DE) rose on crop price expectations. Moderna (MRNA) faced polarizing views ahead of trial results.

Analysts made multiple rating changes: Wells Fargo initiated Johnson Controls (JCI) as overweight, UBS initiated Chemed (CHE) as buy, Mizuho reiterated SpaceX as outperform, Barclays initiated Ligand Pharmaceuticals (LGND) as overweight, Seaport reiterated Nvidia (NVDA) as sell, UBS upgraded Stem (STEM) to buy, HSBC upgraded BP (BP) to buy, Bernstein initiated CF Industries (CF) as outperform, Bank of America reiterated AMD (AMD) as buy, Bernstein reiterated Apple (AAPL) as outperform, JPMorgan…

HSBC upgraded BP to 'buy' with a 640p target, UBS upgraded Glencore to 'buy' with a 650p target, and other analysts adjusted ratings and targets for several London-listed companies.

London's FTSE 100 and 250 indices fell as Middle East tensions drove oil prices up, lifting inflation fears. BP and Shell gained, while Rolls-Royce and BAE Systems declined. Vistry dropped after lowering profit expectations, and Raspberry Pi surged on strong earnings. UK gilt yields rose, with BoE officials hinting at potential rate hikes. Investors await a Trump-Xi summit.

Konecranes raised its sales growth target, revised its dividend policy, and launched a €100m share buyback program, causing its stock to surge 6.3%. Airbus fell 1.7% due to a quality defect in the A321neo, raising concerns about production targets. BP declined 2.4% amid potential acquisition talks for Devon Energy's shale assets.

HSBC upgraded BP (NYSE:BP) to Buy, raising its price target to GBP6.40. BP's stock trades at $44.41, with analyst targets ranging from $41 to $64. HSBC cites improved deleveraging outlook due to higher commodity prices and moderate leverage. JPMorgan and Evercore ISI also upgraded BP, highlighting balance sheet repair and growth prospects.

HSBC upgraded BP and TotalEnergies to Buy, raising earnings and cash flow estimates due to higher oil, refining, and gas price forecasts. BP's price target increased to 640p, TotalEnergies to €93. Chevron's target rose to $250. HSBC expects higher shareholder distributions, with 21% upside for Buy-rated stocks.

BP is considering acquiring Devon Energy's Eagle Ford asset in South Texas, valued at $4.5 billion according to analysts, as part of its renewed focus on U.S. shale operations. Devon is selling the asset as part of a portfolio review following its merger with Coterra Energy. BP has been targeting oil-producing assets valued between $2 billion and $5 billion.