Goldman Sachs on Monday downgraded Shell over what it views as overvaluation compared to its supermajor peers.The European Union’s big oil sector, SXEP, has generated what Goldman Sachs referred to as a “strong” free cash flow of $44.8 billion in the most recent quarter, yet Shell’s “outperformance” has resulted in “a relatively expensive valuation vs peers”.In a research report, Goldman Sachs downgraded Shell from “buy” to “neutral”, citing “above-average” valuation…
