Shell stock: Mizuho raises target for Shell stock to USD 103.00

Published on 10/21/2026 at 16:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Shell posted USD 94.66 billion revenue in Q2 2026. Shell stock costs EUR 47.00 on October 21, 2026, plus 0.30 percent versus Xetra close.

Mizuho target and Shell figures

Mizuho raised its Shell target from USD 98.00 to USD 103.00 on October 12, 2026.
Shell reported USD 94.66 billion in second-quarter 2026 revenue against USD 86.80 billion expected.
Shell stock costs EUR 47.00 at Lang & Schwarz on October 21, 2026 at 4:40 p.m. CEST, 0.30 percent above the Xetra close of October 20, 2026.

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Shell (ISIN GB00BP6MXD84) is facing a more cautious valuation signal after Investing.com reported on October 12, 2026 that Mizuho raised its Shell price target from USD 98.00 to USD 103.00 while keeping a Neutral rating. Shell stock was trading at EUR 47.00 at Lang & Schwarz on October 21, 2026 at 4:40 p.m. CEST, up 0.30 percent versus the Xetra close of October 20, 2026 at EUR 46.86.

Second-quarter revenue beat expectations

Shell reported USD 94.66 billion in revenue for the second quarter of 2026, above the USD 86.80 billion analyst forecast cited by Investing.com. Adjusted earnings reached USD 9.80 billion, while earnings per share came in at USD 1.76 against an expected USD 2.80. The comparison points to a revenue beat alongside weaker earnings per share.

Shell stock stays near its yearly high

A market snapshot published by The Stock Observer on October 18, 2026 placed Shell's USD market capitalization at USD 305.14 billion and its P/E ratio at 11.76. The same source listed a 52-week range of USD 68.63 to USD 106.68, showing that the USD 105.39 quote in that snapshot stood USD 1.29 below the high.

Cash flow and shareholder returns

Shell generated more than USD 21.00 billion in operating cash flow and approximately USD 17.00 billion in free cash flow during the second quarter of 2026, according to Investing.com. The company also announced USD 3.00 billion in share buybacks and kept its 2026 cash capital expenditure guidance at USD 24.00 billion to USD 26.00 billion. These figures give the analyst target a cash-flow and capital-allocation backdrop.

What the target says about valuation

Mizuho's USD 103.00 target is 2.27 percent below the USD 105.39 Shell quote cited in the October 18 snapshot. Its target revision therefore leaves the rating Neutral even as the firm pointed to LNG pricing and refining margins. Shell's investor page lists the third-quarter 2026 update note dated October 7, 2026 and the LNG Canada Phase 2 investment decision dated September 29, 2026.

Shell stock after the Xetra close

The small daily gain leaves the euro quotation almost unchanged against the October 20 Xetra close, while the latest company figures show a clear split between revenue strength and earnings-per-share pressure. Investors have a defined set of numbers to weigh before the next results update.

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