This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Observations – For
Observations – Against
Potential of a bullish breakout following a rebound from week lows, backed by recovery in oil prices amid global supply uncertainty. First day of breakout from early May resistance turned support. Broader recovery in the UK Index , as market nerves are calmer on geopolitical issues, supports the potential for a breakout. Attractive forecast dividend yield (5.18%) makes the stock attractive for many investors.
Broker consensus is bullish, with 60% of analysts saying Buy, with only 20% recommending selling. Oil market potential keeps the door open for the remaining 20% of Neutrals to reassess and upgrade their recommendations.
Average Target Price from previous 2 weeks (2924p) is well above our profit limit. Most brokers are strongly bullish on the target price, with all 8 brokers having target prices above current levels. Most bullish 12-month target is from Exane BNP Paribas (3450p), while most bearish is Panmure Gordon (2700p).
Next Event: Q2 Results, 26 Jul
Latest Broker 12-Month Consensus: 60% Buy, 20% Hold, 20% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | -1.8 | 3.4 | 15.9 | 12.6 | 24.2 | 60.1 | 36.3 | 10.5 | 16.7 |
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