Total: Jefferies remains positive on stock

(CercleFinance.com) - This morning, Jefferies confirms its buy rating on the Total share, with a target price of 57 euros (21% upside potential).


Analysts point to quarterly results that exceeded expectations, as well as the high level of cash generation and the acceleration of share buybacks, which adds to the increase in the dividend announced in September.

Jefferies cannot help but notice that the market did not react much to Total's September CMD, nor to its quarterly results. "We believe valuation is attractive and believe growing underlying cash flows support progressive shareholder returns," the broker says in a note. As a result, analysts say that the market's limited reaction represents a buy opportunity.


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