0742 GMT - Shell will get an earnings boost from stronger commodity prices through 2028, which means EPS expectations will move higher, Baader's Frederic Lorec writes. This will partially offset softer downstream margins and elevated cash capital expenditure of $20.9 billion, he says. Baader increases its 2026 EPS expectation by 28% to $4.28, and its 2027 view by 22% to $4.51. Baader expects adjusted net profit holding around $20 billion through 2027, before easing to $18.6 billion in 2028 as Brent prices move lower to around $75 a barrel. Lorec increases Shell's target price to 4,269 pence from 3,852 pence. Shares trade flat at 3,225.50 pence. (adam.whittaker@wsj.com)

(END) Dow Jones Newswires

May 21, 2026 03:42 ET (07:42 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.