Shell: UBS still on hold ahead of Q1 earnings

(CercleFinance.com) - The analyst believes that trading indicators are broadly in line.
UBS confirms its neutral recommendation on the share and leaves its target unchanged at 2,700 pence, which represents a downside potential of -2%.

"Our 1Q net income estimate is unchanged with a reduction to IG earnings offset by increases elsewhere. We are 13% above VA consensus", UBS says.

Last Friday Shell tightened several of its performance targets for Q1 2024.

The group also said it was targeting a 15%-20% reduction by 2030 in the net carbon intensity of the energy products it sells, compared with 2016, when the previous target was a 20% drop.


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.