Total: UBS upgrades to buy.
(CercleFinance.com) - In a report issued on Tuesday morning, UBS has upgrades its rating on Total from "neutral" to "buy," while upping its target price for the share from 48 euros to 50 euros.
The Swiss broker notes that the oil giant has underperformed its sector over the past 3 months, with its share price falling by double its peers (-8%), despite the group's sound financial performance over the first half.
It also welcomes Total's acquisition of Maersk Oil, an exclusive subsidiary of AP Møller-Mærsk, for 7.45 billion dollars, an amount which it considers as reasonable, particularly in view of the quality of assets acquired, and which is consistent with recent transactions in the sector. UBS also points out the importance of the North Sea for Total.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The Swiss broker notes that the oil giant has underperformed its sector over the past 3 months, with its share price falling by double its peers (-8%), despite the group's sound financial performance over the first half.
It also welcomes Total's acquisition of Maersk Oil, an exclusive subsidiary of AP Møller-Mærsk, for 7.45 billion dollars, an amount which it considers as reasonable, particularly in view of the quality of assets acquired, and which is consistent with recent transactions in the sector. UBS also points out the importance of the North Sea for Total.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.