TD Cowen analyst Jason Gabelman raised the firm’s price target on Shell (SHEL) to $82 from $80 and keeps a Buy rating on the shares. The firm said its results were buoyed by strong operations and trading. It continues to explore ways to address a 350kbd liquids gap in the 2030s, with weak macro potentially enabling inorganics. It is progressing decapitalizing renewbales while on chems it is focused on reducing costs, with no comment on strategic options.
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