Wall Street analysts continue to believe that BP can pay for its Gulf mess, although their confidence level has been dinged by the company’s inability to stem the spill.
Shares of BP PLC rose more than 10 percent Thursday. But at $32.20, the shares are still trading at levels last seen 14 years ago.
Spurred by pressure to fully compensate economic victims of the Gulf spill, BP officials Thursday reiterated that the company has enough cash to cover Gulf spill costs. Analysts agree, saying that BP will have around $5 billion this year to pay damages and clean-up costs once dividends and capital expenditures are covered.