Shell price target raised to $112 from $82 at TD Cowen

TD Cowen analyst Jason Gabelman raised the firm’s price target on Shell (SHEL) to $112 from $82 and keeps a Buy rating on the shares. The firm updated targets in the oils and major producers group to reflect higher oil prices. Higher oil expectations could mean equities hold onto much of their year-to-date gains, the analyst tells investors in a research note.