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Shell: Oddo BHF a buyer before investor day.

(CercleFinance.com) - With Royal Dutch Shell organising an investor day on 28 November, this morning Oddo BHF has confirmed its buy rating on the stock, maintaining its target price at 2,750 pence.

On 28 November in London, the broker's research team forecasts that Europe's leading oil and gas group should reassure the market about its growth prospects beyond 2020. Analysts expect that, with Brent oil at 60 dollars per barrel, Shell's management will confirm its aim to generate free cash flow of 20 billion to 25 billion dollars in 2020. The same applies for the decline in investments.

Oddo BHF also believes that Shell could, from time to time, announce the end of the optional payment of the stock dividend ("scrip program"), as promised, with gearing that is expected to fall to under 20% in the first quarter of 2018, according to its estimates.

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