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Undervalued Shell, Repsol raised to Buy at HSBC, citing robust cash flow.
HSBC upgraded Shell from Hold to Buy due to higher projected cash flow.
KEY POINTS
- Shell's $16.4B acquisition of ARC Resources is improving upstream growth visibility.
- Repsol was also raised to Buy by HSBC based on similar cash flow expectations.
- Shell's stock rose 3.7% after the HSBC rating upgrade announcement.
COMPANIES
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