Societe Generale downgrades Royal Dutch Shell (RDSB.LN) to "hold" from "buy" following poor 3Q results Thursday. Says there is a near-term lack of visibility on free cash flow. Says if it takes longer to turn around the loss-making North America unconventional business, or if oil prices drop to $90/bbl for a couple of years, this could place further pressure on free cash flow. Adds the oil giant said for the first time that 2013 is a peak year for net capex, which is encouraging; however, says there is no explicit guidance as to the size or phasing of asset disposals. Reduces target price to 2400p from 2500p. Downgrades 2013 EPS forecast by a 13% to $3.43. Shell Class B ordinary shares trade up 1.5% to 2192p in London, after having slumped 5.2% Thursday