Connect with us

Hi, what are you looking for?


Shell stock could rally another 40% from here: Goldman Sachs

It’s still not too late to build a position in Shell PLC (LON: SHEL) even though it’s already returned nearly 35% since late September, says Michele Della Vigna – Analyst at Goldman Sachs.

Shell stock could climb further to $85

In a note this morning, Della Vigna recommended buying the London-headquartered firm and said it had upside to $85. That price objective suggests a 40% premium on the current price.

The Goldman Sachs analyst is bullish on Shell stock primarily for its versatile set of assets. His research note reads:

In our view, Shell PLC has the highest quality combination of assets in the sector, with a leading global LNG and marketing businesses and strong chemical presence.

Earlier this month, the oil and gas behemoth said its profit more than doubled to a record $40 billion in 2022.

Why else is he bullish on Shell stock

Della Vigna also likes the British multinational for its ongoing capital discipline that he says will benefit its upstream business in terms of profitability.

Other reasons cited for the constructive view include the company’s oil break-even price that’s currently at its lowest in recent history. The research note adds:

We see material upside to operational performance in both deepwater and liquified natural gas assets, while strong balance sheet might allow it to veer towards the upper end of the sector’s 30-40% cash distribution range.

Shell stock currently pays a dividend yield of just over 4.0% which makes up for another reason to own shares.

The post Shell stock could rally another 40% from here: Goldman Sachs appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Reprinted from the Future of Freedom Foundation President Biden’s campaign to banish (or maybe outlaw) political paranoia took a wallop last spring. In April,...


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...

    Editor's Pick

    It’s already a cliché, but technology is rapidly improving. And for many businesses, it’s hard to catch up. However, it’s not just the average...

    Editor's Pick

    At Broadband World Forum 2022, Fibocom launched 5G module FG370 based on MediaTek T830 platform, aiming to empower the deployment of 5G FWA for...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2022 All Rights Reserved.