Shares of Royal Dutch Shell will rally 24 percent to $64 in the next year on a new business strategy unveiled at the company's investor day, according to Evercore ISI.
"Shell separated from its peers and publicly acknowledged the changed competitive paradigm and the transition that is underway in the global Energy sector," Evercore ISI's Doug Terreson wrote in a note to clients Wednesday.
He added, "Shell's new plan seeks to reshape the company by re-prioritizing its portfolio and prudently managing shareholder capital in coming years. ... Significant upside is present for all Super-Major entities if new financial and strategic direction leads to higher value creation trends."