MARKET TALK: BP Must Be More Radical To Restore Value-JPMorgan

28th Jul 2010 10:27

0927 GMT [Dow Jones] BP'S (BP) management should be thinking of more radical changes to the company's structure than those announced Tuesday in order to return value to shareholders, says JPMorgan analyst Fred Lucas. BP's share price weakness following its 2Q results Tuesday may have been due to "disappointment that BP's thinking on a 'new and different BP' may simply mean a BP with a smaller upstream portfolio," he says. Gives overweight rating, 417p target. Shares -0.8% at 403p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 28, 2010 05:27 ET (09:27 GMT)