Shell price target raised to 3,025 GBp from 2,850 GBp at HSBC

HSBC raised the firm’s price target on Shell to 3,025 GBp from 2,850 GBp and keeps a Buy rating on the shares. Shell posted its second 20% earnings beat in a row, easily the biggest positive surprise of the oil majors’ results season so far, the analyst tells investors in a research note. The firm says buybacks could be sustained at current levels, implying an attractive distribution yield of 10%.