Shell: UBS confirms TP after meeting CEO
(CercleFinance.com) - This morning the broker confirmed its buy rating on the stock with a target price of 2,650p following its announcement of a new chief executive yesterday.
The group announced that Wael Sawan, a veteran within the company who previously headed the group's integrated gas and renewables business, as its new chief executive.
"Wael Sawan to replace Ben van Beurden as CEO from 1 January 2023 Shell announced today that Ben van Beurden will step down as CEO at the end of 2022, and that he will be replaced by Wael Sawan on 1 January 2023. Ben van Beurden will continue working as an adviser to the Board until 30 June," UBS says.
Wael Sawan, a Lebanese-Canadian citizen, grew up in Dubai and has spent his entire 25-year career working for Shell.
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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.
The group announced that Wael Sawan, a veteran within the company who previously headed the group's integrated gas and renewables business, as its new chief executive.
"Wael Sawan to replace Ben van Beurden as CEO from 1 January 2023 Shell announced today that Ben van Beurden will step down as CEO at the end of 2022, and that he will be replaced by Wael Sawan on 1 January 2023. Ben van Beurden will continue working as an adviser to the Board until 30 June," UBS says.
Wael Sawan, a Lebanese-Canadian citizen, grew up in Dubai and has spent his entire 25-year career working for Shell.
Copyright (c) 2022 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.