By Alexander Bueso
Date: Tuesday 03 Sep 2019
(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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