Barclays raises target for Shell stock from GBp 4,700.00 to GBp 4,950.00

Published on 10/06/2026 at 11:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Shell doubles LNG Canada capacity after its September 29 decision. Shell stock costs EUR 43.17 on October 6, 2026 versus EUR 42.97.

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Barclays raised its Shell stock price target from GBp 4,700.00 to GBp 4,950.00 in an analyst note dated October 5, 2026. Markets Insider reports that Barclays analyst Lydia Rainforth kept an Overweight rating alongside the higher target.

LNG capacity doubles in Canada

Shell approved a final investment decision on LNG Canada Phase 2 on September 29, 2026. The project in Kitimat, British Columbia, will double production capacity, according to Shell.

The decision strengthens the LNG growth narrative, but it also places execution and capital discipline at the center of the investment case. Shell's second-quarter cash capital expenditure outlook remains USD 24.00 billion to USD 26.00 billion for 2026, including USD 4.00 billion for the ARC Resources acquisition.

Second-quarter figures beat estimates

Shell reported USD 94.66 billion of revenue in the second quarter of 2026, versus USD 86.22 billion expected, while earnings per share reached USD 3.52 against a USD 3.23 consensus estimate. Those figures were reported by MarketBeat.

Shell's official second-quarter materials put adjusted earnings at USD 9.80 billion and operating cash flow at more than USD 21.00 billion for the second quarter of 2026. The same release states that net debt fell to about USD 42.00 billion and that Shell announced USD 3.00 billion of share buybacks, according to Shell.

Target rises 5.32 percent

Barclays lifted its target by GBp 250.00, equal to 5.32 percent from the previous GBp 4,700.00 level, while retaining the Overweight rating. The note provides a clear valuation signal, although the source does not give a detailed explanation for the change.

Shell is scheduled to release its third-quarter 2026 results and interim dividend announcement on October 29, 2026, at 7:00 a.m. GMT, according to Shell. That date gives the market a defined checkpoint for testing whether LNG expansion, cash generation and buybacks continue to support the higher analyst valuation.

Shell stock holds above prior close

Shell stock was trading at EUR 43.17 at Lang & Schwarz on October 6, 2026, at 11:12 a.m. CEST. The price was up 0.47 percent versus the Lang & Schwarz prior close of EUR 42.97 on October 5, 2026.

The further course of trading is shown by the continuously updated real-time quote of Shell stock.