TotalEnergies: RBC upgrades its rating to 'outperform

(CercleFinance.com) - On Thursday, RBC upgraded its opinion on TotalEnergies to 'Outperform' from 'Performing in line with the sector', following the stock's recent pullback.


In a research note, the Canadian broker sees the stock as a 'quality value at a discounted price'.

TotalEnergies has clearly underperformed the sector recently, due to political uncertainty in France and questions more specific to the company, relating to its latest investments", recalls the Canadian broker.

"At the same time, gas prices, to which the group is exposed, have taken an upward trajectory", it continues.

From the broker's point of view, the file offers an attractive opportunity in terms of growth over the coming years, not to mention one of the most powerful strategies within the sector.

Given its now moderate valuation relative to its peers, and the redistribution of shareholder choices that is in prospect for 2025, we perceive a more positive risk/return profile'

The intermediary nevertheless left unchanged its target price of 80 euros for the stock.

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