JPMorgan downgrades Shell (RDS.A) to Neutral from Overweight on valuation. Shell's 'exceptional'...

|By:, SA News Editor

JPMorgan downgrades Shell (RDS.A) to Neutral from Overweight on valuation. Shell's 'exceptional' 2010 performance "may have borrowed from its 2011 potential and was partly attributable to the impact of Macondo on BP. We struggle to identify incremental catalysts that are not expected and cannot see a compelling valuation gap relative to BP."