MARKET TALK: Macquarie Upgrades BP To Outperform From Neutral

28th Jul 2010 13:32

1232 GMT [Dow Jones] Macquarie upgrades BP (BP.LN) to outperform from neutral and raises price target to 530p from 500p. "We believe that the capping of the Macondo well and the establishment of parameters around the liability of the spill begin to move the stock toward being a value investment." Says the price of BP's stock now more than reflects most likely outcomes of the ultimate spill liability. Still, expects the stock's volatility to continue to exceed the sector's, adding that "it is clearly not yet an investment for the faint of heart." Shares -2.2% at 397p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 28, 2010 08:32 ET (12:32 GMT)