Citi analyst Alastair Syme raised the firm’s price target on Shell (SHEL) to 3,550 GBp from 2,950 GBp and keeps a Neutral rating on the shares. The firm believes the Middle East conflict will bring a lowering cost of equity for oil and gas stocks, which results in increased price targets across the board. The war could create “structural re-engagement” of the investment community in the oil and gas sector, the analyst tells investors in a research note. Citi’s top picks are TotalEnergies, ConocoPhillips, and BP.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHEL:
- Midday Fly By: Nike falls after earnings, Conagra reports mixed results
- Shell price target raised to $112 from $82 at TD Cowen
- AI Models Split on Shell: Income Play or Cyclical Upside?
- Shell in discussions with Venezuela government for more gas areas, Reuters says
- AI Models Split on Shell (SHEL) as Cyclical Pressures Meet Capital Discipline