The Canadian bank RBC has maintained its rating for Shell with a price target of 3800 pence at 2Outperform2, reflecting a positive assessment of the stock and thus making it of interest to investors.
Details of the upgrade
RBC has raised its price target for Shell after the company’s capital market day from a previous 3500 to now 3800 pence. Analyst Biraj Borkhataria attributes this to the improved earnings dynamics as well as the strict investment and cost discipline at Shell since 2023. These factors have led to above-average performance compared to the industry.
Strategic Orientation and Financial Stability
The company’s new strategy is supported by a solid balance sheet and enables industry-leading returns for shareholders. Shell’s role as a significant player in the oil and gas sector also means influence on markets and commodity prices, further underlining RBC’s positive assessment.
In summary, RBC’s recommendation for Shell remains clearly positive with an increased price target of 3800 pence and the rating 2Outperform2.