BP (NYSE:BP) Maintains "Hold" Rating and Ventures into Biofuel with Corteva

Font: Financial Modeling Prep  • Jan 08, 2026

• Jefferies maintains a "Hold" rating for BP (NYSE:BP) and raises the price target to 440 GBp.
• BP announces a joint venture with Corteva Inc., named Etlas, aiming to produce biofuel feedstocks.
• The stock has seen a decrease of 2.01%, with a current price of $33.67.

BP (NYSE:BP) is a global energy company involved in oil and gas exploration, production, refining, and marketing. It competes with major players like ExxonMobil and Shell. On January 7, 2026, Jefferies maintained its "Hold" rating for BP, with the stock priced at $33.67. Jefferies also raised BP's price target to 440 GBp from 420 GBp, as highlighted by TheFly.

BP's recent joint venture with Corteva Inc., named Etlas, marks a significant step in the biofuel sector. This 50:50 partnership aims to produce biofuel feedstocks, leveraging Corteva's seed technology and BP's refining and marketing expertise. Etlas plans to produce one million metric tonnes of feedstock annually by the mid-2030s, potentially yielding over 800,000 tonnes of biofuel.

BP's stock has seen a decrease of 2.01%, dropping $0.69 to $33.67. Today's trading range is between $33.58 and $33.93. Over the past year, BP's stock has fluctuated, reaching a high of $37.64 and a low of $25.22. The company's market capitalization is approximately $88.3 billion, with a trading volume of 12.2 million shares.

The launch of Etlas aligns with BP's strategy to diversify its energy portfolio and focus on sustainable energy solutions. By producing biofuels like sustainable aviation fuel and renewable diesel, BP aims to reduce its carbon footprint and meet the growing demand for cleaner energy sources.