Jefferies has reaffirmed its 'buy' recommendation and £30 price target on Shell, which remains its top pick in Europe's integrated oil and gas sector, reflecting on its fourth-quarter results.

These results have reinforced the broker's view that Shell is becoming the industry leader in capital management: as it becomes leaner, it will be able to maintain the best payout levels to shareholders in the sector, while continuing to deleverage.

Near-term organic growth is supported by continued development and ramp-up activity in Brazil and the Gulf of Mexico, as well as an early LNG start-up in Canada", adds Jefferies.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
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.