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Bloomberg: Shares of Shell were cut to ‘sell’ from ‘neutral’ by analysts at Goldman Sachs Group Inc

By Trista Kelley
July 11 (Bloomberg)

Royal Dutch Shell Plc (RDSA LN): Shares of Shell were cut to “sell” from “neutral” by analysts at Goldman Sachs Group Inc. Shell, Europe’s largest oil company, was downgraded because it faces “three years of heavy investment in its new legacy assets without the prospect of material production growth,” Goldman analysts including Jonathan Waghorn and Mark Lacey in London said in a note yesterday. Shell shares declined 18 pence, or 0.9 percent to 2091.

To contact the reporter on this story: Trista Kelley in London at [email protected]

Last Updated: July 10, 2007 21:38 EDT

The above is an extract from the Bloomberg article: BG Group, Kingfisher, Burberry, RBS: U.K., Irish Equity Preview

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