Total: Oddo BHF maintains 'buy' rating after annual results
(CercleFinance.com) - Oddo BHF reinstates its "buy" rating on the Total share, along with its target price of 58 euros (28% upside), which it says remains one of the best-in-class in its sector and is one of the broker's best picks for 2020.
Its presentation was reassuring on the trajectory of the group's CFFO, the return to shareholders in a volatile environment, along with its realistic strategy to reduce its CO2 emissions, says the analyst, who adds that the share's valuation remains attractive.
Adding that market sentiment remains too negative on the sector, the broker says that this will gradually improve, in favour of companies that offer a clear strategy, an optimal capital allocation and a path towards a responsible transition that does not destroy value.
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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.
Its presentation was reassuring on the trajectory of the group's CFFO, the return to shareholders in a volatile environment, along with its realistic strategy to reduce its CO2 emissions, says the analyst, who adds that the share's valuation remains attractive.
Adding that market sentiment remains too negative on the sector, the broker says that this will gradually improve, in favour of companies that offer a clear strategy, an optimal capital allocation and a path towards a responsible transition that does not destroy value.
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.