Shell: UBS upgrades recommendation

(CercleFinance.com) - UBS has raised its recommendation on Shell from 'neutral' to 'buy', with a target price of 3,000 pence (up from 2,800 pence) - a new target that offers 15% upside potential for the British oil and gas company's shares.


Shell has the highest FCF yield in the sector, as well as the safest share buybacks and the potential for $6bn in additional cost savings, the broker points out in its summary.


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