Total: Oddo ups EPS estimate and target price
(CercleFinance.com) - Oddo has confirmed its buy rating on the Total stock after the group's Investor Day.
The broker has raised its EPS by 4% in 2019 and has nudged up its target price for the share from 59 euros to 60 euros, to integrate better profitability and cash generation in deepwater.
In its daily equity round-up, Oddo said that the group took this opportunity to once again confirm the ambitious growth targets for production, with guidance at the beginning of the period of 5 to 6-7%, a steadfast discipline in costs and a significant effect in terms of size in LNG.
At the CFFO (Cash flow from operating activities) level, the group remained cautious, maintaining its targets - particularly in IG - while the broker estimates that there is the potential for a 1 billion dollar increase. At the same time, Oddo is raising its CFFO estimates by 1 billion dollars from 2019 to take into consideration stronger potential in Deepwater, the broker adds.
Copyright (c) 2018 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 has raised its EPS by 4% in 2019 and has nudged up its target price for the share from 59 euros to 60 euros, to integrate better profitability and cash generation in deepwater.
In its daily equity round-up, Oddo said that the group took this opportunity to once again confirm the ambitious growth targets for production, with guidance at the beginning of the period of 5 to 6-7%, a steadfast discipline in costs and a significant effect in terms of size in LNG.
At the CFFO (Cash flow from operating activities) level, the group remained cautious, maintaining its targets - particularly in IG - while the broker estimates that there is the potential for a 1 billion dollar increase. At the same time, Oddo is raising its CFFO estimates by 1 billion dollars from 2019 to take into consideration stronger potential in Deepwater, the broker adds.
Copyright (c) 2018 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.