BP's stock has been gushing like the well itself and with BP's stock down almost 50%, or almost $90 billion since the April 20 rig disaster, is it time to buy or sell?
There are still many unknowable, unquantifiable facts surrounding BP and the oil spill, so one thought is that now isn't the time to dive headlong into the stock. And there's no way to know how much BP will have to spend to clean up the mess.
However BP's stock is pricing in a worst-case scenario right now. If you don't own the stock, you may want to buy it. If you own it, you may want to hang on to it. One analyst sees a 12- to 18-month price target on the stock of $55 per share. That's nearly 70% higher than Thursday's closing price.
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