Analyst Christopher Kuplent of Bank of America Securities reiterated a Buy rating on Shell (UK), boosting the price target to p3,200.00.
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Christopher Kuplent has given his Buy rating due to a combination of factors that highlight Shell’s strong financial performance and strategic positioning. The company’s third-quarter update for 2025 shows significant improvements across various sectors, including trading, marketing, refining, renewables, and production, which are expected to lead to more consensus upgrades. Kuplent has raised the clean earnings estimate for the third quarter by nearly 5%, positioning it 15% above the consensus, indicating robust financial health.
Shell’s unmatched cash flow resilience and stable net debt further support the Buy rating. The company is able to cover its cash returns with organic cash flows, demonstrating the lowest breakeven oil price among its peers. Additionally, Shell’s ongoing portfolio optimization, including new LNG volume contributions and expected inorganic proceeds, provides momentum for continued growth. These factors, combined with the company’s strategic initiatives, make Shell a top pick in the Big Oil sector.
In another report released today, Barclays also maintained a Buy rating on the stock with a £40.00 price target.