Total: UBS still a buyer after investor day.
(CercleFinance.com) - UBS has confirmed its buy rating on the Total share after the group's investor day held in London.
The broker also maintains its 12-month target price of 49 euros.
Yesterday, the French oil “giant” confirmed that, with Brent oil at 50 dollars a barrel, in 2019 it intends to pay for its dividend by cash generation. The development of deposits, which is expected to ensure an average growth of 5% p.a. in hydrocarbon production through to 2022 (and no longer just until 2020, thanks to the acquisition of Maersk Oil announced this summer), with the reduction in investments set to contribute to this. In addition, savings increase: initially expected to reach 4 billion dollars by 2018, they have now been increased to 5 billion dollars by 2020.
UBS also notes that Total has confirmed its intention to terminate the discount on the dividend payable in shares upon completion of the acquisition of Maersk Oil: this will strengthen the "conservative" side of the group's financial model.
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 also maintains its 12-month target price of 49 euros.
Yesterday, the French oil “giant” confirmed that, with Brent oil at 50 dollars a barrel, in 2019 it intends to pay for its dividend by cash generation. The development of deposits, which is expected to ensure an average growth of 5% p.a. in hydrocarbon production through to 2022 (and no longer just until 2020, thanks to the acquisition of Maersk Oil announced this summer), with the reduction in investments set to contribute to this. In addition, savings increase: initially expected to reach 4 billion dollars by 2018, they have now been increased to 5 billion dollars by 2020.
UBS also notes that Total has confirmed its intention to terminate the discount on the dividend payable in shares upon completion of the acquisition of Maersk Oil: this will strengthen the "conservative" side of the group's financial model.
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.