Krugerrand

$ 0.00
   
  • Closing Price Chg:
    $12.20
  • 52 Week High: $0.00
  • 52 Week Low: $0.00
  • Currency: US Dollars

JPM upgrades Shell to 'overweight' on positive outlook

By Sean Farrell

Date: Wednesday 02 Dec 2020

LONDON (ShareCast) - (Sharecast News) - JP Morgan upgraded Royal Dutch Shell shares to 'overweight; and increased its price target on the oil company as it took a positive view of the UK oil sector.
The investment bank increased its rating on Shell shares from 'neutral' and upped its price target to £17 from £16. JP Morgan left its 'overweight' rating on BP shares intact and trimmed its price target to 400p from 425p.

JP Morgan analysts predicted an oil "supercycle on the horizon" with demand likely to rebound as vaccines to prevent Covid-19 stem the pandemic. The pandemic has prompted big oil companies to rebase their dividends and accelerate plans to move into green energy, they said.

"While oil demand's rebound led by new vaccines is likely to be 'bumpy' owing to varying degrees of penetration rates in emerging markets, out commodities oil outlook models global consumption almost back to pre-2019 levels in 1H22," Christyan Malek and colleagues wrote in a note to clients.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Krugerrand Market Data

Currency US Dollars
Price $ 2,227.16
Closing Price Change $ 12.20
% Change 0.00 %
52 Week High $0.00
52 Week Low $0.00

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