NewRatings.com: Shell Canada "buy": "analysts mention that Shell Canada has declared impressive operational results from its oilsands so far in the current year." (ShellNews.net)

Canaccord Capital

Posted 8 Sept 04

NEW YORK, September 7 (New Ratings) - Analysts at Canaccord Capital reiterate their "buy" rating on Shell Canada (SHC.TOR). The target price is set to C$80.

In a research note published this morning, the analysts mention that Shell Canada has declared impressive operational results from its oilsands so far in the current year.

The company is aiming to achieve sustainable full production levels by the year-end, the analysts say. Increased production levels and fixed costs are expected to boost the company’s earnings in the current and the next year, according to Canaccord Capital. The company is likely to be net debt free by 1Q05, the analysts add.

http://www.newratings.com/analyst_news/article_464397.html