BP price target raised to 480 GBp from 460 GBp at HSBC

HSBC analyst Kim Fustier raised the firm’s price target on BP (BP) to 480 GBp from 460 GBp and keeps a Hold rating on the shares. The firm believes the involvement of Elliott Management increases the likelihood of needed change at BP but says “there are no easy fixes.” BP’s capital markets day on February 26 “is the most highly anticipated strategy update from an oil major in years,” the analyst tells investors in a research note.