Credit Suisse is positive on integrated energy, whilst, stock-by-stock it rates Shell as an 'outperform' with a 3,000p price target, describing the Anglo-Dutch as its 'top pick'. BP PLC (LSE:BP.) is, meanwhile, rated at 'neutral' with Wong noting that it had a high-quality hydrocarbons portfolio but near-term targets to grow through its 'customers and mobility' businesses may leave it exposed to scaling back its targets. Elsewhere, Norway's Equinor is given a 'neutral' rating and France's TotalEnergies was rated as 'outperform'.