Piper Sandler Reiterates Overweight Rating on Shell Plc. (SHEL)

Piper Sandler analyst Ryan Todd reiterated an Overweight rating and $82.00 price target on Shell Plc. (NYSE: SHEL).

The analyst commented: "Putting aside any New Yorker's feelings about Boston (and its baseball team) this time of year, we happily hosted investor meetings with SHEL's CFO, Sinead Gorman, in Boston this week. Investor interest in, and respect for, SHEL remains high amongst US investors, driven by significant improvements in capital allocation, portfolio breakeven, operational execution and strategic clarity over the past three years, as well as best in class FCF generation (11.5% FCF/EV vs. peer 8.3%) and shareholder returns. While risk of LNG market oversupply and post-2030 resource remain topics of discussion with investors, the biggest question may be whether there is enough left to maintain momentum in Act Two. However, with competitive advantages across (increasingly important) deepwater and LNG, significant upside to cost reduction targets, and a management team with a high degree of well-earned credibility, we continue to see SHEL well positioned for sustained FCF generation."

For an analyst ratings summary and ratings history on Shell Plc. click here. For more ratings news on Shell Plc. click here.

Shares of Shell Plc. closed at $72.12 yesterday.

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