Deutsche Bank started following Royal Dutch Shell on Wednesday with a buying advice and a price target of £ 19.39. This was shown in a sector report by the German bank.

In this comprehensive report, the analysts argue that Shell’s environmental footprint compares relatively favourably to that of competitors, due to the heavy weight of LNG, a liquid derived from natural gas, compared to oil production.

The removal of a large part of the dividend in 2020 was also a shock for investors, but it has led to a rapid decline in debt. By the end of this year, according to Deutsche Bank, Shell’s management will have achieved its target of reducing debt to less than $ 65 billion, paving the way for a substantial share purchase program by 2022.

For this reason, Shell has been declared the sector favourite by Deutsche Bank.

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