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Shell: BarCap ups target price; maintains 'overweight'.

(CercleFinance.com) - Barclays Capital has raised its target price for the Royal Dutch Shell share to 2,850 pence from 2,750 pence, and maintains its "overweight" rating, seeing the shares' 6% yield as "meaningfully undervalued.

"The group surprised us by presenting new medium-term aspirations for both earnings and cash flow from its chemicals business that are higher than we anticipated," BarCap wrote in a report sent to clients.

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