Key facts: Shell stock drops 2.6% on LNG forecast cuts; price target raised — TradingView News
Shell’s stock fell 2.6% to 2,593 pence after lowered LNG production forecasts and chemicals losses. Analysts worry about the sustainability of its $3.5 billion buyback amid weak earnings.123Shell has revised its fourth-quarter LNG production forecast to 7.5-7.9 million metric tons, down from 7.4-8 million tons, while keeping oil and gas output forecasts unchanged.4Piper Sandler has increased the price target for Shell (SHEL) shares to $92.00, up from the previous target of $90.00.5