TotalEnergies: UBS still a buyer

(CercleFinance.com) - UBS reiterates its Buy recommendation on the stock, with a target price of E67, following the management roadshow.


The analyst underlines the coherence and resilience of the strategy, with a focus on integrated energy.

The group has confirmed net investments of between $16bn and $18bn p.a. over 2025-2030 (of which around $5bn will be devoted to low-carbon energies), but retains the flexibility to reduce them by $2bn in the event of a sharp drop in prices.

Management expects free cash flow to grow by $10bn by 2030 (compared with 2024 at constant prices).


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