TotalEnergies: Oddo BHF confident ahead of CMD
(CercleFinance.com) - Oddo BHF has confirmed its "outperform" rating on TotalEnergies, along with its target price of E72, believing that the Group's CMD on 27 September in New York should be an excellent catalyst for the share.
The analyst says that TotalEnergies' transition strategy is credible, attempting to reconcile growth in oil and gas production with the development of renewables, while offering very good profitability.
The broker also points to a return to shareholders deemed generous at 10%, and considers that the renewable energies business, which it values at over $35bn, is a source of upside.
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