Is Shell’s bargain-basement share price set for take-off after its key 25 March strategy reset?
Image source: Olaf Kraak via Shell plc
Shell’s (LSE: SHEL) share price has tracked the benchmark Brent oil price higher this month. However, the stock is still down 6% from its 13 May one-year traded peak of £29.56.
I think even that 12-month high is nowhere near the fair value of the energy giant. And I think a turning point in realising its full potential may be yesterday’s (25 March) strategy update.
What’s the new idea?
At its Capital Markets Day, it broadly announced its aim to become the world’s leading gas and liquefied natural gas (LNG) business.
Gas is the key energy source in transitioning from fossil fuels to greener alternatives. And LNG became the world’s emergency energy form after…
