Shell share price weakness a buying opportunity, says Argus

Shell’s (SHEL) recent share price weakness is a buying opportunity, Argus analyst Bill Selesky tells investors in a research note. As the company moves past its period of heavy capex spending and continues to lower its cost structure, the firm expects free cash flow to improve significantly, providing more resources for dividend increases and share buybacks. The firm, which has a Buy rating and $81 price target on the shares, believes the dividend is safe and sustainable.