Jefferies Sees 37% Upside As Shell Delivers Q1 EPS Beat and Revenue Miss
Jefferies reiterated a Buy rating on Shell with a £44 price target, implying 37% upside potential after its first-quarter call. Shell reported Q1 EPS above estimates driven by trading strength but saw revenues miss consensus as working-capital swings weighed on cash flow.
1. Jefferies Repeats 'Buy' Rating with £44 Price Target
Jefferies reiterated its 'Buy' rating on Shell, assigning a £44 per share price target that implies about 37% upside potential. The broker highlighted robust trading performance and positive outlook following Shell's first-quarter investor call as justification for maintaining the recommendation.
2. Q1 Results Show EPS Beat but Revenue Miss
Shell reported Q1 earnings per share above analyst estimates, driven by strength in trading and optimisation operations, while total revenues fell short of consensus due to significant working-capital swings. The divergence between profit metrics and revenue highlights operational resilience alongside near-term cash flow pressures.