Total: remains Oddo's top pick in sector
(CercleFinance.com) - Oddo said this morning that the price of oil should remain under pressure, and may even fall further in April (stock reductions in Saudi Arabia), to then begin a recovery in the second half of the year.
Analysts say that they have reduced their scenario for oil prices to 45 dollars per barrel in 2020 and 55 dollars per barrel thereafter.
While Total's dividend, which remains the broker's top pick, is not at risk, given the group's low debt, this is not the case for BP (Neutral) or Eni (downgraded to Neutral from Buy), they add.
Analysts have downgraded Shell to Neutral, which may have to cut its share repurchase program again. Amongst oil services groups, they still prefer companies with solid balance sheets or which offer visibility, such as SBM Offshore, Subsea 7 and GTT, they say.
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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 say that they have reduced their scenario for oil prices to 45 dollars per barrel in 2020 and 55 dollars per barrel thereafter.
While Total's dividend, which remains the broker's top pick, is not at risk, given the group's low debt, this is not the case for BP (Neutral) or Eni (downgraded to Neutral from Buy), they add.
Analysts have downgraded Shell to Neutral, which may have to cut its share repurchase program again. Amongst oil services groups, they still prefer companies with solid balance sheets or which offer visibility, such as SBM Offshore, Subsea 7 and GTT, they say.
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.