Others Stock

[SHELL] Buy call on SHELL (4324)

We call for a buy on SHELL at RM 11.30 and a target price of RM 12.50.

Its shares price hit its highest closing price in 12 months last week, ahead of an expected announcement of strong results for the second quarter (Q2) ended June 30. Shell was likely to report strong Q2 earnings with indications that the refining margin was a high US$10 per barrel driven by strong gasoline prices the US market, said Standard and Poor's Equity Research (S&P) in a report dated last Friday.

While Shell Malaysia Trading Sdn Bhd has complete acquisitions of 44 ProJet Stations and land bank from Conoco Jet (M) Sdn Bhd, operator of ProJet retail marketing assets in Malaysia. ProJet's strong presence in Johor would allow Shell to grow its market share in the southern state. It would also expand its branch network by building gasoline stations on the 14 pieces of vacant land it purchased from Conoco Jet, a wholly-owned unit of ConocoPhillips.
Quotes are delayed at least 15 minutes. Stock charts are updated at the end of the trading day. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Tradesignum is not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Tradesignum website, you agree not to redistribute the information found herein.