According to a report published by Lyon, Shell's second-quarter results exceeded guidelines and market expectations by 33% and 23% respectively, benefiting from increased market share and efficiency improvements. The bank believes that further efficiency improvements and broader market recovery pose an upward risk. The bank raised the target price of H shares from HK$61 to HK$62, and the ADS target price from US$23.8 to US$24.2, reaffirming the “outperforming market” rating, and raising the adjusted net profit forecast of 2.6%, 3.2% and 2.2% for each year from 2026 to 28 to reflect cost reduction expectations and efficiency improvements; it is believed that Shell will be one of the first beneficiaries of the property market recovery, and added to the list of preferred stocks in the Chinese property sector.

According to a report published by Lyon, Shell's second-quarter results exceeded guidelines and market expectations by 33% and 23% respectively, benefiting from increased market share and efficiency improvements. The bank believes that further efficiency improvements and broader market recovery pose an upward risk. The bank raised the target price of H shares from HK$61 to HK$62, and the ADS target price from US$23.8 to US$24.2, reaffirming the “outperforming market” rating, and raising the adjusted net profit forecast of 2.6%, 3.2% and 2.2% for each year from 2026 to 28 to reflect cost reduction expectations and efficiency improvements; it is believed that Shell will be one of the first beneficiaries of the property market recovery, and added to the list of preferred stocks in the Chinese property sector.