Goldman Sachs Downgrades Royal Dutch Shell (RDS-A) from Conviction Buy to Neutral; Valuation Call

June 20, 2012 9:13 AM EDT
Get Alerts RDS-A Hot Sheet
Price: $54.87 +0.64%

Rating Summary:
    19 Buy, 10 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Goldman Sachs downgraded Royal Dutch Shell (NYSE: RDS-A) from Conviction Buy to Neutral with a price target of $93.00.

Analyst, Michele della Vigna, said, "Since being added to the Buy List on October 16, 2008 (and the Conviction List on December 11, 2008) Royal Dutch Shell (A) shares are up 59.7% (+31.6%) vs. FTSE World Europe (EUR) up 18.9% (+20%). (See Exhibit 1 for performance of other share classes.) This strong performance was driven by successful delivery of Shell’s growth strategy, with the start-up of Pearl GTL, Athabasca and Qatargas 4 in a period of high oil prices, leading to superior cash flow growth. We take Shell off CL Buy and downgrade our rating to Neutral from Buy as strong relative performance now puts Shell in the middle of the peer group on a potential upside basis."

For an analyst ratings summary and ratings history on Royal Dutch Shell click here. For more ratings news on Royal Dutch Shell click here.

Shares of Royal Dutch Shell closed at $67.57 yesterday.

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