Wall Street Zen Upgrades BP (NYSE:BP) to "Buy"

Analysts see upside potential in oil major's stock despite mixed ESG positioning

Mar. 14, 2026 at 6:33am

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Wall Street Zen upgraded its rating on BP (NYSE:BP) from "hold" to "buy" in a research note on Saturday, citing higher oil prices and analyst confidence in the company's near-term outlook. The upgrade comes amid a mixed bag of news for the oil major, including political and labor risks in some of its key markets.

Why it matters

BP's upgrade to a "buy" rating signals that some analysts see upside potential in the stock despite ongoing challenges. The company's strategic pivot towards low-carbon energy has led to a mixed ESG positioning, with major asset managers still including BP in many sustainability-focused funds. However, political and labor risks in key regions like West Africa and the U.S. could pose headwinds.

The details

In its research note, Wall Street Zen cited higher oil prices driven by Middle East supply concerns as a key factor that should boost BP's upstream margins and cash flow. The firm raised its price target on BP to $47, implying potential upside from the stock's current levels. However, the upgrade comes amid a mixed bag of news for the company. Senegal's prime minister is challenging a BP gas deal and has frozen assets tied to a partner, creating political and execution risk for the company's projects in West Africa. Additionally, U.S. United Steelworkers members recently rejected BP's "last, best, and final" offer at the Whiting, Indiana refinery, raising the possibility of strikes, outages or higher labor costs. Meanwhile, activist group Follow This is threatening court action against BP, alleging the company failed to distribute a shareholder proposal, potentially creating a governance distraction.

  • Wall Street Zen upgraded BP on Saturday, March 14, 2026.

The players

Wall Street Zen

A research firm that upgraded its rating on BP from "hold" to "buy".

BP

A British multinational integrated energy company headquartered in London.

Senegal's Prime Minister

The prime minister of Senegal who is challenging a BP gas deal and has frozen assets tied to a partner, creating political and execution risk for BP's projects in West Africa.

United Steelworkers

A labor union whose members rejected BP's "last, best, and final" offer at the Whiting, Indiana refinery, raising the possibility of strikes, outages or higher labor costs.

Follow This

An activist group that is threatening court action against BP, alleging the company failed to distribute a shareholder proposal, potentially creating a governance distraction.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee

The takeaway

BP's upgrade to a "buy" rating highlights the mixed outlook for the company, with potential upside from higher oil prices offset by ongoing political, labor, and governance risks. The company's strategic pivot towards low-carbon energy has led to a complex ESG positioning, with major asset managers still including BP in sustainability-focused funds despite the challenges.