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It seems hard to fathom, but Wall Street is staying bullish on British Petroleum (BP). Which raises the question: Are these analysts overly optimistic about how BP will survive the largest oil spill in U.S. history?
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Despite the rising tide of public anger and hostility toward BP -- and the announcement on Tuesday by U.S. Attorney General Eric Holder that the government is opening a criminal probe into the spill -- most of the 17 analysts who follow the oil and petrochemicals giant continue to urge investors to buy its stock. And none recommend dumping it. Twelve of the analysts rate BP a buy, and five recommend holding it.
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