Shell: becomes Barclays' top pick in European energy
(CercleFinance.com) - Royal Dutch Shell has become Barclays' "top pick," replacing BP, which the British broker still rates "overweight".
"Shell's share price, for us, simply does not reflect the underlying free cashflow potential of the business," Barclays writes in a note, seeing a "clear value opportunity" given the oil giant's dividend yield and share repurchases.
The broker also says that it sees the upcoming Capital Markets Day in June as a "key catalyst." It has set its target price for the share at 3,250 pence.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"Shell's share price, for us, simply does not reflect the underlying free cashflow potential of the business," Barclays writes in a note, seeing a "clear value opportunity" given the oil giant's dividend yield and share repurchases.
The broker also says that it sees the upcoming Capital Markets Day in June as a "key catalyst." It has set its target price for the share at 3,250 pence.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.