The Rising Influence of Rising Affluence

[DewDiligence]

MS upgrades Shell to equal-weight:

http://www.marketwatch.com/story/royal-dutch-shell-upgraded-at-morgan-stanley-2010-12-08

Morgan Stanley on Wednesday lifted its rating on Royal Dutch Shell to equal-weight from underweight, saying there is scope for a three-fold increase in the oil giant's existing $7 billion to $8 billion disposal program.

The broker said a recent deal to sell a big chunk of the company's stake in Australian exploration group Woodside "indicated a ruthlessness we have not previously seen." Morgan Stanley also said that it has renewed confidence that Shell will exceed expectations on free-cash-flow generation.

Not exactly a ringing endorsement, but Shell will take it.