TotalEnergies: Oddo BHF raises TP

(CercleFinance.com) - Oddo BHF confirms its 'outperform' recommendation on TotalEnergies shares, raising its target price for them from E72 to E75, after the oil and gas group published Q1 results that are 2.
2% ahead of expectations.

In addition, the broker is examining the possibility of moving the stock's primary listing (and not its domiciliation) to the US, a market where oil companies are better perceived than in Europe.

Oddo BHF believes that the stock should trade at 5x 2024 CFFO and deserves a premium over the sector. The stock offers an excellent yield of 10%, one of the best in the sector, it continues, mentioning its lead in the energy transition.


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