Total: buyer BarCap still aiming for 66 euros

(CercleFinance.com) - In an analysts' note published this morning, Barclays Capital (BarCap) maintains its Buy recommendation (“overweight”) on shares of Total, which has just become the world's second-largest LNG player through an acquisition.


The price target is also maintained at 66 euros.

Firstly, analysts estimate that the major French oil & gas company will publish “solid” quarterly results next week, with profits expected to be up 44% year on year, thanks mainly to the acquisition of Maersk Oil.

“Equally, we consider that the completion last week of the buyback of LNG assets from Engie for approximately two billion dollars constitutes an additional reserve for an increase in the share”, explains a research note.

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