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Broker round-up: Shell

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February 03 2014, 1:00pm

Screen Shot 2013-10-01 at 07.56.54Royal Dutch Shell (LON:RDSB) has been downgraded by HSBC, despite the broker welcoming the actions taken by new chief executive Ben van Beurden.Shell’s new boss is right to focus on improving the Anglo-Dutch giant’s financial performance and its capital efficiency, says the broker, including a reduction in growth capex and the clear guidance on increased disposals. According to HSBC, however, the market has anticipated many of his changes already…


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