TotalEnergies: RBC raises target price

(CercleFinance.com) - On Thursday, RBC raised its target price for TotalEnergies shares from E65 to E70, while maintainign its "sector perform" rating on the stock.


In its comments, the Canadian broker considers that the management team did a "good job" yesterday at the group's CMD, highlighting its medium-term growth potential.

RBC also praised the company's promise of increased cash flow generation, which could lead to an increase in the remuneration proposed to shareholders.

The broker believes that the French energy group's medium-term visibility is an asset, as does the diversified nature of its growth between liquids, LNG and low-carbon resources.

Royal Bank of Canada says that Total appears to be well positioned to take advantage of an energy transition (which it anticipates to be fraught with pitfalls).


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