Royal Dutch Shell Plc (RDS.B)

[conix]

Sure glad I averaged down big time earlier.

Shell upped at Bernstein on 'attractive' cash flow momentum

Dec. 03, 2020 2:42 PM ETRoyal Dutch Shell plc (RDS.A)By: Carl Surran


Royal Dutch Shell (RDS.A +0.9%) rises modestly as Bernstein Research upgrades shares to Outperform from Market Perform with a $54 price target, citing "attractive cash flow momentum."

"With our fear of a dividend cut behind us and the surprise Q3 dividend boost still resonating, we've re-examined the Shell cash flow story and think it's now too good to ignore," according to Bernstein analysts led by Oswald Clint.

Free cash flow should average $21B in the first half of this decade and $26B in the back half, the Bernstein analysts believe.

"While income investors may not return, their holdings are around 4% now (from 9% in Q1) and with the stock trading at a rare sub-1.0x [price to book] and valued at just the current dividend stream, we think ESG and cash flow growth seeking investors will pick up the baton," the firm says.