Analysts say it's unlikely that BP will have to cut its dividend as a result of the accident and expect the London-based company's final clean up and damages bill to be lower than the recent loss of share value.
Stockbroker Panmure Gordon has switched its recommendation from sell to buy, recommending that investors switch out of Royal Dutch Shell into BP. It lifted its target price from 496 pence to 600 pence.
BP shares were trading well below that on Wednesday afternoon at 559.90 pence, up 0.25 percent. The stock peaked at 573.9 pence earlier in the day.
