BP Expected to Gain as Gulf Spill Settlement Lifts ‘Dark Cloud’
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BP Plc is poised to gain at least 5 percent this week after a $7.8 billion settlement with victims of the worst U.S. oil spill, an analyst survey showed.
BP shares will probably rise to a minimum of 520 pence from the close of 496.5 pence on March 2, according to the forecasts of five oil industry analysts. Jason Kenney, an analyst for Banco Santander SA in Edinburgh, said the stock may climb as high as 580 pence over time if additional spill costs stay within the company’s estimates.