Shell (LON:SHEL) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Citigroup has raised its target price for Shell stock from GBX 2,450 to GBX 2,650, suggesting a potential downside of 2.23% from the previous close, while maintaining a "neutral" rating.
• Other analysts, such as Berenberg Bank and Royal Bank Of Canada, have issued higher price targets of GBX 3,000 and GBX 3,400 respectively, indicating a positive outlook for Shell stock.
• Shell's stock is currently trading at GBX 2,710.50, with a market capitalization of £204.11 billion and a price-to-earnings ratio of 13.51.

Shell (LON:SHEL - Get Free Report) had its target price raised by equities research analysts at Citigroup from GBX 2,450 ($32.36) to GBX 2,650 ($35.01) in a report released on Friday, Marketbeat Ratings reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's price target would suggest a potential downside of 2.23% from the company's previous close.

Several other research firms have also weighed in on SHEL. Berenberg Bank reissued a "buy" rating and set a GBX 3,000 ($39.63) price objective on shares of Shell in a research note on Monday, July 7th. Royal Bank Of Canada reissued an "outperform" rating and set a GBX 3,400 ($44.91) price objective on shares of Shell in a research note on Friday. Finally, JPMorgan Chase & Co. reissued an "overweight" rating on shares of Shell in a research note on Friday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of GBX 3,158.33 ($41.72).

Shell Price Performance

Shell stock opened at GBX 2,710.50 ($35.81) on Friday. The company's 50 day simple moving average is GBX 2,584.12 and its 200 day simple moving average is GBX 2,580.60. Shell has a fifty-two week low of GBX 2,269.92 ($29.99) and a fifty-two week high of GBX 2,947.06 ($38.93). The firm has a market capitalization of £204.11 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 2.50 and a beta of 0.51.

About Shell

Shell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. It explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure to deliver gas to market.

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