Jamie Ashcroft: 01 Dec 2016
Royal Dutch Shell Plc’s (LON:RDSB) portfolio is ‘ripe to deliver’, according to JP Morgan, which rates the stock as ‘overweight’ and sees 2017 as an inflection year for the oil supermajor.
JP Morgan analyst Christyan Malek says investors should buy ahead of further capex cuts and free cash flow uplift.
In a note Malek said: “the recent Brazil field trip left us incrementally positive on scope to cut capex further in 2017-18 as economies of scale on cost improve and internal efficiencies take effect.