Total: Berenberg confirms 'buy' rating
(CercleFinance.com) - On Wednesday, an analyst at Berenberg confirms his "buy" recommendation on the share of the Total group, despite this morning's announcement of a drop in its refining margin (Europe), to 30.
2 dollars per tonne in Q4 2019, against 47.4 dollars in the previous quarter and 40.8 dollars a year earlier.
"The company remains well positioned into 2020, benefiting from the strong production ramp up through 2019," the broker hails, even though it is slightly adjusting some of its estimates.
Berenberg also confirms its target price of 60 euros for the share (22% upside).
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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.
2 dollars per tonne in Q4 2019, against 47.4 dollars in the previous quarter and 40.8 dollars a year earlier.
"The company remains well positioned into 2020, benefiting from the strong production ramp up through 2019," the broker hails, even though it is slightly adjusting some of its estimates.
Berenberg also confirms its target price of 60 euros for the share (22% upside).
Copyright (c) 2020 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.