Aker BP Rating, Price Target Upgraded as RBC Forecasts Higher Free Cash Flow

09:28 AM EST, 12/12/2025 (MT Newswires) -- Aker BP (AKRBP.OL) is poised to see an increase in free cash flow on the back of higher production as it brings new oil fields onstream, prompting RBC Capital Markets to revise its rating and price target for the company. "From 2H26 to end 2027 Aker BP is set to bring onstream ~80kboe/d net from the Valhall PFP, Skarv extension, Utsira high and Yggdrasil developments which were sanctioned in late 2022," analysts said Thursday. "We forecast Aker BP's cashflow profile is also set to materially improve from 2H26, due to the start-up of the new fields and lower capital spending. Aker BP's capex is expected to have peaked in FY25 at ~$7bn, lowering to a ~$1-2bn range by 2030, subject to additional tieback opportunities being sanctioned (RBCe $2bn in 2030)." As such, the research firm upgraded the rating on the stock to outperform from underperform, while the price target was raised to 320 Norwegian kroner from 240 kroner. Analysts also expect the Norwegian oil exploration and development company's dividend to increase by 10% annually between the 2027 and 2030 period, which sits 6% higher than consensus estimates.