Total: UBS still a buyer - targets 62.5 euros
(CercleFinance.com) - This morning UBS confirmed its buy rating on the stock of the French oil giant Total, which published its full-year results this week.
Analysts highlight the group's dynamic production. Sticking to its 12-month target price of 62.5 euros, this suggests upside potential of around 30%.
Total's Q4 2018 earnings slightly beat expectations (+2%) (adjusted net income of 3.16 billion dollars, versus 2.98 billion dollars expected), thanks to upstream and refining. Operating cash flow also exceeded estimates, reaching 10.6 billion over the quarter, while UBS was only waiting for 8.1 billion.
UBS also highlights the robust increase in production over the period (+10%), to 2,876 million barrels of oil equivalent/day, up 8% over 2018. In addition, Total expects a new increase in extractions - up 9% in 2019, while UBS was expecting 7.8%. The group also wants to repurchase more of its own shares than originally planned.
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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.
Analysts highlight the group's dynamic production. Sticking to its 12-month target price of 62.5 euros, this suggests upside potential of around 30%.
Total's Q4 2018 earnings slightly beat expectations (+2%) (adjusted net income of 3.16 billion dollars, versus 2.98 billion dollars expected), thanks to upstream and refining. Operating cash flow also exceeded estimates, reaching 10.6 billion over the quarter, while UBS was only waiting for 8.1 billion.
UBS also highlights the robust increase in production over the period (+10%), to 2,876 million barrels of oil equivalent/day, up 8% over 2018. In addition, Total expects a new increase in extractions - up 9% in 2019, while UBS was expecting 7.8%. The group also wants to repurchase more of its own shares than originally planned.
Copyright (c) 2019 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.