TotalEnergies: Credit Suisse still a buyer

(CercleFinance.com) - Credit Suisse maintains its Outperform rating on TotalEnergies shares with a target price of 73 euros.


TotalEnergies' underperformance ahead of its strategy and outlook day on 28 September is largely due to uncertainty regarding its post-Russia strategy and capital allocation, the analyst said.

Credit Suisse expects the group to maintain this year's capital budget at 16 billion dollars to address the energy crisis through short-cycle projects and accelerate the energy transition.

The simplification of its shareholder return policy, which is now expressed in terms of excess cash flow, could earn it more credit from investors.



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