Scotiabank Raises Shell Price Target to $91, Maintains 'Sector Outperform' Rating

Scotiabank has raised Shell's (SHEL) price target to $91.00, a 13.75% increase, and maintained its "Sector Outperform" rating. Recent analyst ratings show a mix of upgrades and downgrades for SHEL's performance outlook. The average brokerage recommendation is 2.1, indicating "Outperform" status. The estimated GF Value for SHEL in one year is $66.03, suggesting a downside of 11.09% from the current price.

Scotiabank has significantly boosted Shell's (SHEL) price target to $91.00, representing a 13.75% increase from its previous target. The bank maintained its "Sector Outperform" rating, reflecting a continued positive outlook for the integrated oil and gas company. This move comes amidst a mixed sentiment from analysts regarding Shell's stock performance, with some upgrading and others downgrading their ratings.

On October 9, 2025, Scotiabank analyst Paul Cheng raised Shell's price target from $80.00 to $91.00, marking a substantial 13.75% increase. This action aligns with the positive market outlook for Shell, which is one of the world's largest integrated oil and gas companies. Shell's recent performance highlights its robust production and reserves, with a daily production of 1.5 million barrels of liquids and 7.7 billion cubic feet of natural gas in 2024 Shell (SHEL): Scotiabank Raises Price Target, Reaffirms Rating | SHEL Stock News^[1].

Analyst ratings for Shell have shown a mix of upgrades and downgrades. For instance, Piper Sandler's Ryan Todd maintained an "Overweight" rating but raised the price target from $82.00 to $87.00, a 6.10% increase. Conversely, Wolfe Research's Doug Leggate downgraded Shell to "Peer Perform" from "Outperform" Shell (SHEL): Scotiabank Raises Price Target, Reaffirms Rating | SHEL Stock News^[1]. These varying opinions underscore the diverse market sentiments surrounding Shell's stock.

According to the consensus recommendation from 15 brokerage firms, Shell's average brokerage recommendation is currently 2.1, indicating an "Outperform" status. The average price target from 12 analysts is $79.08, with a high estimate of $91.00 and a low estimate of $41.61 Shell (SHEL): Scotiabank Raises Price Target, Reaffirms Rating | SHEL Stock News^[1]. This suggests a potential upside of 6.48% from the current price of $74.26.

GuruFocus estimates Shell's GF Value for one year to be $66.03, indicating a downside of 11.09% from the current price of $74.262. This GF Value is calculated based on historical multiples and future performance estimates Shell (SHEL): Scotiabank Raises Price Target, Reaffirms Rating | SHEL Stock News^[1].

Shell's recent earnings and financial performance have been robust, with a net margin of 31.12% and a return on equity of 34.31% in the latest quarter. However, the company faces challenges from fluctuating oil prices and regulatory pressures, which could impact its stock performance.

In conclusion, Scotiabank's positive rating and price target increase for Shell reflect a bullish outlook on the company's future prospects. Despite mixed analyst ratings, the overall consensus leans towards an "Outperform" status, suggesting potential upside for investors. However, investors should closely monitor Shell's financial performance and market conditions to make informed decisions.