Technical analyst Somil Mehta of Sharekhan maintained 'buy' rating on Bharat Petroleum Corporation Limited stock with a short term target of Rs 670.

According to analyst, the stock can be purchased with a stop loss of Rs 605.

Mr. Mehta said that the stock can attain the said target within 1-2 weeks.

Today, the stock of the company opened at Rs 141.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 144.20 and a low of Rs 76.50 on BSE.

Current EPS & P/E ratio stood at 9.27 and 15.42 respectively.

BPCL is a substitute for crude, that's what it is doing.

If crude keeps on declining, BPCL today and day after say Monday morning could do much better.

With state-owned oil companies, IOC and HPCL yet to bag compensation from centre govt for losses incurred on diesel, LPG as well as kerosene, the firms have deferred their meetings to consider and sanction the financial outcomes for October to December 2010 quarter.

Now, BPCL's directors will meet on 31 January.

The company purchased 1 million barrels of Nigerian Qua Iboe crude oil from Morgan Stanley in a tender.

It was BPCL's initial purchase of crude oil from Morgan Stanley.