Total: Oddo a buyer after bid for Direct Energy

(CercleFinance.com) - Oddo confirms its buy rating on the Total stock, along with its target price of 56 euros after this morning's announcement of an agreement to acquire 74.
33% of Direct Energy at a price of 42 euros per share.

The broker believes that this acquisition is very positive for the group, which thereby clearly displays its aims in G&P. Oddo underlines that the group is hence confirming its diversification into the G&P, with energy that is both in high demand and cleaner.

In its daily equity report, Oddo says that with this acquisition Total demonstrates a big desire to strengthen in its presence in electricity and gas, which are the energies of the future.


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