AlphaValue/Baader Europe raised its forecasts for oil and gas exploration and production company Aker BP (AKRBP.OL), taking into account a higher commodity price deck.
"The main driver is the price deck: we now take Brent to USD 91.5/bbl in 2026 from USD 87/bbl and USD 78/bbl in 2027 from USD 72/bbl, while European gas moves to EUR 57/MWh from EUR 55/MWh in 2026 and EUR 53/MWh from EUR 47/MWh in 2027. The second leg is volumes. We raise the lower end of 2026 guidance to 380-400 kboe/d, while Skarv Satellites adds production from late 2026 and Yggdrasil and Valhall PWP-Fenris drive the step-up from 2027," analysts wrote in a Friday note. "Management expects production to increase by around 35% between 2026 and 2028, giving Aker BP significant operating leverage to the stronger commodity assumptions."
As such, EPS projections for 2026 and 2027 were increased by 35.5% and 21.8%, respectively, to $4.46 and $3.77.
The research firm has a sell rating on the stock, with a price target of 328 Norwegian kroner.