MARKET TALK: BP Well-Placed To Deal With Oil Spill -Citi

15th Jun 2010 12:41

1141 GMT [Dow Jones] BP (BP.LN) remains well-placed, both operationally and financially, to deal with the Macondo spill, says Citigroup. It says the stock price will likely continue to whip-saw on speculation until the company can kill the leak, clean-up the damage and give more certainty around the costs. But Citi still thinks the stock price is discounting pessimistic cost outcomes rather than the most likely outcomes. Additionally, Citi says a clean break by the US side from the rest of BP's business, if considered, would not be a simple option. Buy rating, 590p target. Shares +0.2% at 356p.([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 15, 2010 07:41 ET (11:41 GMT)