TotalEnergies: share rises after RBC upgrade
(CercleFinance.com) - TotalEnergies was up on Thursday morning in Paris, following RBC's decision upgrade of the stock to outperform (vs.
sector perform) following its recent downturn.
At around 11am, the stock was up around 1.2%, while the CAC 40 index was up 0.4%.
In a research note, the Canadian broker sees the stock as a quality stock at a bargain 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, the Canadian broker says.
At the same time, gas prices, to which the group is exposed, have taken an upward trajectory, it continues.
The broker believes that the case offers an attractive opportunity in terms of growth for 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 see a more positive risk/return profile.
The broker nevertheless maintains its target price unchanged at E80.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
sector perform) following its recent downturn.
At around 11am, the stock was up around 1.2%, while the CAC 40 index was up 0.4%.
In a research note, the Canadian broker sees the stock as a quality stock at a bargain 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, the Canadian broker says.
At the same time, gas prices, to which the group is exposed, have taken an upward trajectory, it continues.
The broker believes that the case offers an attractive opportunity in terms of growth for 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 see a more positive risk/return profile.
The broker nevertheless maintains its target price unchanged at E80.
Copyright (c) 2024 CercleFinance.com. All rights reserved.