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Barclays downgrades Royal Dutch Shell to 'equalweight'

By Alexander Bueso

Date: Tuesday 03 Sep 2019

Barclays downgrades Royal Dutch Shell to 'equalweight'

(Sharecast News) - Analysts at Barclays downgraded their recommendation on shares of Royal Dutch Shell even as they kicked off coverage of the biggest US oil names at 'overweight'.
In a research note sent to clients, the broker said that in the latest edition of its Oil&Gas Benchmarks, it had downgraded its view on Shell from 'overweight' to 'equalweight' with Total replacing it as its 'top pick' in Europe.

Spanish oil major Repsol was also handed a downgrade, to 'underweight'.

Chevron (Target price: $145), Exxon (Target price: $73) and Conoco (Target price: $79) on the other hand were all started at 'overweight'.

Its view on the industry was unchanged at 'positive'.



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