TD Cowen initiated coverage of Shell (SHEL) with a Buy rating and $81 price target The firm believes Shell is best positioned in European oil to stabilize its shareholder distributions, even in a lower price environment. The company’s capital expenditures should fall with large projects now coming online, the analyst tells investors in a research note. TD expects Shell to reiterate its 6% free cash-flow guidance until 2030 at its capital markets day on March 25.
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