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UBS Global Research has upgraded Shell and Repsol to "buy" ratings, citing Shell's strong free cash flow outlook and efficient cost management, alongside Repsol's anticipated cash flow surprises and robust shareholder returns. Conversely, Eni has been downgraded to "neutral" due to limited positive surprises and weaker margins in its chemical and biofuel segments, with shares trading at a premium to historical averages.
UBS has upgraded its recommendation on Shell from 'neutral' to 'buy', raising the target price from 2,800 pence to 3,000 pence, indicating a 15% upside potential. The firm highlights Shell's leading free cash flow yield, secure share buybacks, and potential for $6 billion in cost savings.
Global markets faced a downturn this week as rising government bond yields followed the US inflation data and the ECB's hawkish rate cut. European stocks showed mixed results, with consumer stocks rallying amid hopes for Chinese stimulus, while US markets were mixed, led by gains in technology shares despite losses in most sectors. In China, stock markets rallied on expectations of further stimulus measures.
Hyundai Motor India plans to enhance the electric vehicle charging infrastructure by installing nearly 600 fast-charging stations over the next seven years. This initiative aims to alleviate consumer concerns about long-distance travel in EVs due to insufficient charging options along highways. With access to advanced global EV and battery technology, Hyundai is set to create a comprehensive EV ecosystem in India.
BP is seeking buyers for a stake in its U.S. natural gas pipeline network, potentially raising up to $3 billion by selling up to 49%. This move is part of CEO Murray Auchincloss's strategy to reduce the company's rising debt, which reached $24.3 billion in September. Amid investor pressure and a declining share price, BP is also looking to divest from its solar and wind operations.
Shell plc, rated Neutral by UBS, focuses on oil and natural gas production and distribution. Its net sales are primarily derived from crude oil refining (37.5%) and petroleum product marketing (34.4%), with additional contributions from renewable electricity (14.1%) and liquefied natural gas (11.9%). Geographically, sales are distributed across the UK (14.1%), Europe (23.2%), Asia/Oceania/Africa (31.6%), the US (22.2%), and the Americas (8.9%).
Shell plc is engaged in oil and natural gas production and distribution, with key activities including crude oil refining (37.5%), petroleum product distribution (34.4%), and renewable electricity production (14.1%). The company operates 7 refineries and over 47,000 service stations globally, with significant sales in Asia-Oceania-Africa (31.6%) and the United States (22.2%).
UBS has maintained a "Neutral" rating for Shell, setting a target price of 2800 pence. This decision aligns with the oil company's new management strategy, which focuses on returning value to shareholders and includes stepping back from leading new offshore wind projects.
Chevron Corp. and Shell Plc are in discussions to invest in Argentina's major project aimed at increasing crude exports from the Vaca Muerta shale formation. The companies are negotiating equity stakes in a $3 billion initiative to construct a cross-country pipeline and an Atlantic port, led by state-run YPF SA.
Shell and Equinor are set to form Britain's largest independent oil and gas company through a joint venture, combining their U.K. offshore assets in Aberdeen. The new entity aims to produce over 140,000 barrels of oil equivalent per day by 2025, enhancing the U.K.'s energy security amid rising fiscal challenges in the sector. This strategic move is expected to leverage tax synergies and strengthen cash flow for both companies.
Shell plc
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs upgrades shell and repsol to buy downgrades eni to neutral
11:46 09.01.2025
UBS upgrades Shell to buy with increased target price and strong outlook
10:27 09.01.2025
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