Shell upped to buy at HSBC, which also keeps BP and Total at buy

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Royal Dutch Shell was upgraded to buy from hold at HSBC, with the bank citing higher cash flow and dividend per share forecasts. “In our view this is warranted by Shell’s robust cash flow, and improved clarity on its capital framework – notably on continued capital discipline and the path to higher cash distributions,” said HSBC. HSBC kept buy ratings on BP and Total and hold ratings on Chevron , ENI , Equinor , Exxon and Repsol .
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