Total: Credit Suisse changes to 'buy'

(CercleFinance.com) - Credit Suisse has changed course in terms of the following oil & gas 'majors'.


The 'buy' recommendation ('outperform') for BP has now made way for a 'neutral' position. Conversely, the French group Total's share has now switched from neutral to 'buy'. This is despite the target price being pared down from 60 to 58 euros.

The analysts consider that the Total share is now slightly cheaper than BP, while an important catalyst is around the corner for the French group. Traditionally, the latter presents its strategic prospects in September.

Credit Suisse estimates that Total should after this event gain visibility horizon 2025, especially as regards its distribution policy.

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