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Dow Jones Newswires: Morgan Stanley cuts Royal Dutch Shell

Friday, February 03, 2006 5:28:18 AM ET
0911 GMT [Dow Jones] Morgan Stanley cuts Royal Dutch Shell (RDSB.LN) to equalweight from overweight, price target to 2,100p from 2,150p on “disappointing” cash return. “With the results for 4Q '05 (Thursday), Shell announced its intention to buy back up to $5 billion of shares in 2006”, a surprise “on the downside.” Says “either the company is planning major acquisitions, or there are real risks of further capex increases.”

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