Royal Dutch Shell upgraded to Overweight from Equal Weight at Morgan Stanley Morgan Stanley analyst Martijn Rats upgraded Royal Dutch Shell to Overweight from Equal Weight with a price target of 1,180 GBp, up from 991 GBp. The analyst notes that the company's new distribution policy sends an "important signal" about its cash generating ability. Rats adds that Shell's long-term DFS growth target of 4% is higher than previously expected and appears "credible", while its capital expenditure growth guidance looks "lower than anticipated".
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Read more at:
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