Total: Berenberg in Total belief
(CercleFinance.com) - Broker Berenberg confirms its buy rating on the Total share, following the group's publication of its quarterly results.
Analysts maintain their target price of 56.5 euros (meaning upside of about 19%).
Analysts say that the French oil and gas major has reported Q3 adjusted net income that is 15% above expectations, at slightly over 3 billion dollars.
Total still expects 9% growth in its hydrocarbon production this year, while its downstream division is proving resilient, Berenberg says in a note. The group will raise its global dividend by over 3% this year, and intends to raise its share buybacks to 1.75 billion dollars, against 1.5 billion previously, analysts point out.
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.
Analysts maintain their target price of 56.5 euros (meaning upside of about 19%).
Analysts say that the French oil and gas major has reported Q3 adjusted net income that is 15% above expectations, at slightly over 3 billion dollars.
Total still expects 9% growth in its hydrocarbon production this year, while its downstream division is proving resilient, Berenberg says in a note. The group will raise its global dividend by over 3% this year, and intends to raise its share buybacks to 1.75 billion dollars, against 1.5 billion previously, analysts point out.
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.