Total: Oddo a buyer ahead of investor day.
(CercleFinance.com) - Broker Oddo BHF has confirmed its buy rating on the Total share this morning, with the French oil major organising its traditional meetings with investors on 25 September.
The broker is also maintaining its target price of 53 euros.
Its research report welcomes an audacious group that is developing on several fronts with the best average annual growth rate in production over 2016-2020, at 5.5%. In addition, investments and operating expenses should continue to decline; Total is the leader in this area, Oddo BHF further points out.
Better still: analysts have not ruled out that the French group reduces its “cash breakeven” target at 45 dollars per barrel of Brent by 2020 by paying its dividends in cash, which should be an excellent catalyst for the share. And this is while the Total share's P/E is discounted by 21% relative to the oil sector.
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.
The broker is also maintaining its target price of 53 euros.
Its research report welcomes an audacious group that is developing on several fronts with the best average annual growth rate in production over 2016-2020, at 5.5%. In addition, investments and operating expenses should continue to decline; Total is the leader in this area, Oddo BHF further points out.
Better still: analysts have not ruled out that the French group reduces its “cash breakeven” target at 45 dollars per barrel of Brent by 2020 by paying its dividends in cash, which should be an excellent catalyst for the share. And this is while the Total share's P/E is discounted by 21% relative to the oil sector.
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.