Royal Dutch Shell
RDSA,
RDS.A,
was upgraded to outperform from market perform at Bernstein Research on attractive cashflow momentum. “With our fear of a dividend cut behind us and the surprise 3Q dividend boost still resonating we’ve re-examined the Shell cashflow story and think it’s now too good to ignore. We now remove our 0.75x multiple discount which boosts our price target to £21/$54, offering 60% upside,” said analysts led by Oswald Clint.