75/100BShell stock forecast 2026–2030What is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Analysts' average 12-month price target for Shell is 103.62, 6.5% above the current price of 97.27. Their targets range from 90.00 to 122.40.
Of the 6 firms that rated Shell in the past 12 months, 3 rate it buy or strong buy, 3 hold and 0 sell or strong sell (each firm at its latest rating): a Hold consensus.
Analysts' 1-year price targets range from 90.00 to 122.40, with an average of 103.62.
| Buy | 3 | |
| Hold | 3 | |
| Sell | 0 |
12-month price target
| Highest target | 122.40 |
| Average target | 103.62 |
| Lowest target | 90.00 |
| Current price | 97.27 |
Shell price target historyWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Have analysts recently raised or lowered their Shell price target and rating?
How analysts rate Shell, month by monthWhat is the analyst rating? The analyst rating sums up what the analysts covering a stock recommend, from strong buy to strong sell, by the share of them rating it a buy.
3 of 6 firms rate it buy now, against 6 of 9 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
Shell analyst upgrades, downgrades and price targets
The latest rating change came on 25 November 2025, when UBS downgraded Shell from Buy to Neutral. The most recent new target came from Mizuho Securities on 12 October 2026: 103.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 12 Oct 2026 | Mizuho Securities Nitin Kumar | — | 98.00 → 103.00 | +5.1% | 100.18 |
| 25 Sept 2026 | UBS | — | 90.00 | — | 95.60 |
| 3 Sept 2026 | Morgan Stanley Martijn Rats | — | 101.30 | — | 92.33 |
| 3 Sept 2026 | Piper Sandler | Reiterated · Neutral | 88.00 → 100.00 | +13.6% | 92.80 |
| 31 Jul 2026 | Wells Fargo | Reiterated · Equal Weight | 94.00 → 105.00 | +11.7% | 90.51 |
| 23 Jul 2026 | Piper Sandler | — | 89.00 → 88.00 | -1.1% | 87.77 |
| 20 Jul 2026 | Mizuho Securities | — | 98.00 | — | 87.32 |
| 21 May 2026 | Jefferies Mark Wilson | Reiterated · Buy | 122.40 | — | 87.81 |
| 17 Apr 2026 | BNP Paribas | — | 101.00 | — | 91.50 |
| 9 Apr 2026 | Wells Fargo | Reiterated · Equal Weight | 77.00 → 94.00 | +22.1% | 91.09 |
| 6 Feb 2026 | Wells Fargo | Reiterated · Equal Weight | 87.00 → 77.00 | -11.5% | 75.77 |
| 6 Feb 2026 | Piper Sandler | Reiterated · Overweight | 92.00 → 89.00 | -3.3% | 74.63 |
| 8 Jan 2026 | Piper Sandler | Reiterated · Overweight | 87.00 → 92.00 | +5.7% | 71.54 |
| 25 Nov 2025 | UBS | Downgraded · Buy → Neutral | — | — | — |
Shell EPS and revenue estimatesWhat are estimate revisions? Estimate revisions are the changes analysts make to their EPS and revenue forecasts for the years ahead. They show whether expectations are rising or falling.
Analysts expect Shell's EPS to grow 17.1% a year until 2028.
Analysts expect Shell's revenue to grow 4.7% a year until 2028. Over the last 5 years it grew 8.1% a year, and over the last 3 years it fell 11.2%.
Revenue
EPS
Does Shell beat earnings estimates?What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
On average, analysts' EPS estimate was 17.9% off the result, either way, and their revenue estimate 7.1%, over the last 12 quarters.
- EPS beats
- 85 / 136
- Revenue beats
- 14 / 20
- Average EPS surprise, last 12What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
- +11.7%
- Since
- April 1993
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 29 Oct 2026 | 3.54 | 3.86 | +9.0% | 93.25B | 92.85B | -0.4% |
| Q2 FY2026 | 30 Jul 2026 | 3.23 | 3.52 | +9.0% | 86.22B | 94.66B | +9.8% |
| Q1 FY2026 | 7 May 2026 | 2.14 | 2.44 | +14.0% | 77.54B | 69.69B | -10.1% |
| Q4 FY2025 | 5 Feb 2026 | 1.21 | 1.14 | -5.8% | 62.64B | 64.09B | +2.3% |
| Q3 FY2025 | 30 Oct 2025 | 1.72 | 1.86 | +8.1% | 67.73B | 67.74B | +0.0% |
| Q2 FY2025 | 31 Jul 2025 | 1.13 | 1.42 | +25.7% | 70.23B | 65.41B | -6.9% |
| Q1 FY2025 | 2 May 2025 | 1.54 | 1.84 | +19.5% | 70.86B | 69.23B | -2.3% |
| Q4 FY2024 | 30 Jan 2025 | 1.74 | 1.20 | -31.0% | 65.02B | 66.28B | +1.9% |
| Q3 FY2024 | 31 Oct 2024 | 1.66 | 2.36 | +42.2% | 61.34B | 71.09B | +15.9% |
| Q2 FY2024 | 1 Aug 2024 | 1.82 | 1.97 | +8.2% | 61.33B | 74.46B | +21.4% |
| Q1 FY2024 | 2 May 2024 | 1.87 | 2.38 | +27.3% | 82.04B | 72.48B | -11.7% |
| Q4 FY2023 | 1 Feb 2024 | 1.94 | 2.22 | +14.4% | 76.86B | 78.73B | +2.4% |
Shell stock price 2026–2030: scenariosHow are the stock price scenarios calculated? Bear, base and bull prices for the years ahead: the analysts' EPS estimates times the lowest, average and highest P/E of the stock today and at its last five year ends, or of its peers.
If Shell's earnings grow at the 15.4% a year analysts expect to FY2028, then 15.0% a year, it would earn about 12.74 a share in FY2030. At the P/E it has traded at over the last five years (4.9 to 12.3) that is 62.97 to 156.47 a share, or 122.12 at its average P/E of 9.6. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2026 | 12.94 | 63.98 | 124.08 | 158.97 |
| FY2027 | 11.15 | 55.14 | 106.93 | 137.01 |
| FY2028 | 9.63 | 47.61 | 92.34 | 118.31 |
| FY2029 (extrapolated) | 11.08 | 54.75 | 106.19 | 136.06 |
| FY2030 (extrapolated) | 12.74 | 62.97 | 122.12 | 156.47 |
Each year's EPS is the analysts' consensus to FY2028; the years after grow 15.0% a year (the analysts' growth, at most 15%). Bear, base and bull apply the lowest, average and highest P/E of today and the last five fiscal year ends, leaving out any above 60, the mark of a year of collapsed earnings (4.9, 9.6, 12.3).
Is Shell stock undervalued or overvalued?How does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
Shell's P/E of 8.4 is below the middle of its 5-year range (4.3 to 47.2, median 12.3). Analysts do not expect slower growth than in recent years, so it is cheaper than its usual level. Fair value is not a reliable guide for Shell: analysts expect EPS growth of 17.1% a year against -19.3% before, so its past P/E no longer describes it. Its forward P/E, on the consensus for FY2026, is 7.5.
- Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 8.37
- Five-year median P/EWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 12.29
- Five-year P/E range
- 4.3 – 47.2
- Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 7.52
- PEG ratioWhat is the PEG ratio? The PEG ratio divides the P/E by the yearly earnings growth analysts expect, to show how much you pay for each point of growth.
- 0.54
- To the average targetWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
- +6.5%
Most undervalued US stocksHow does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
| Stock | Price | Fair value | Upside |
|---|---|---|---|
| 194.150 | 384.66163Price 194.152,644 | +98.1% | |
| 151.500 | 297.58169Price 151.50471 | +96.4% | |
| 43.415 | 82.9546Price 43.42165 | +91.1% | |
| 160.210 | 305.52160Price 160.21396 | +90.7% | |
| 213.480 | 405.47304Price 213.48507 | +89.9% | |
| 159.250 | 300.34225Price 159.25375 | +88.6% | |
| 164.480 | 308.95212Price 164.48442 | +87.8% |
Furthest below the fair value on each stock's page, updated every day.