Broker tips: Shell, Randgold Resources, G4S

Analysts at Barclays reaffirmed their positive stance on shares of Royal Dutch Shell, pointing to management's ability to 're-set' the outfit's cash break-even level lower, the likelihood that it would soon be able to scrap its scrip dividend and the 6% dividend yield on offer.

The key, they explained, was management's decision to avail themselves of lower capital expenditures, reduced operating expenditures, divestments and new project start-ups to cut the company's cashflow break-even level of oil to $50 a barrel.

That was so even after paying out a full cash dividend.

Over the past four years, Shell had cut the oil price needed to cover both capex and payouts by nearly $80 a barrel, Barclays explained.

Yes, at 25% gearing remained above the firm's targeted level of 20%.

However, Barclays judged that: "continued strong organic cashflow and further divestment proceeds should give management the required line of sight to lower gearing that it needs to turn off the optional scrip dividend sooner rather than later."

Analysts at Numis reiterated their 'buy' recommendation and 900p target price on Randgold Resources's shares despite its third quarter earnings 'miss' on the back of higher costs and lower gold sold as a proportion of output.

Indeed, cash costs printed at $667/oz., versus Numis's forecast for $606/oz, due to a combination of factors, including as a result of a higher strip ratio at its Loulo-Gounkoto and Tongon mines.

Instead, the analysts highlighted the 8.5% quarterly increase in cash from $572m at the end of the previous quarter to $621m and management's decision to reiterate their full-year guidance.

In particular, the directors had reaffirmed their intention to return to shareholders cash in excess of its targeted $500m.

Growth from G4S may be weak for several months yet, but Deutsche Bank upgraded its recommendation on the stock on expectations of better growth next year.

Deutsche upgraded to a 'buy' rating from 'hold' and hiked its target price to 340p from 330p, with the shares having fallen more than 16% since July's long-term high.

Growth should remain weak for two to three quarters, the bank's analysts said, cutting forecasts to 1.9% for the second half of 2017, from previous estimates of 3.2%.

But once the first quarter is out of the way, they expect faster growth in 2018 of 4.4% thanks to better year-on-year growth from its Cash360 business, alongside better overall expectations for emerging markets growth and in commodities.