Total: Berenberg still a buyer after results
(CercleFinance.com) - In turn, Berenberg maintains its "buy" recommendation on the Total share, along with its target price of 60 euros after the company unveiled its Q4 results last week, with adjusted earnings 17% above the consensus.
"The pace of growth will slow from 2020, but the underlying position of the company is solid, with growing FCF, resilient delivery at low oil prices and attractive, low-cost growth projects," analysts say.
According to Berenberg, Total " offers a differentiated focus on growth reflected in its dividend growth and acquisition strategy, while peers are focusing more on balance sheet strengthening and buybacks".
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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.
"The pace of growth will slow from 2020, but the underlying position of the company is solid, with growing FCF, resilient delivery at low oil prices and attractive, low-cost growth projects," analysts say.
According to Berenberg, Total " offers a differentiated focus on growth reflected in its dividend growth and acquisition strategy, while peers are focusing more on balance sheet strengthening and buybacks".
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.