TotalEnergies: Oddo says a ticket to ride LNG

(CercleFinance.com) - Oddo BHF reiterates its "outperform" rating on TotalEnergies shares, increasing its target price for them from 66 euros to 69 euros, with the stock one of its best picks in the oil sector, alongside Shell and Repsol, so as to play the LNG theme.


The broker points out that EU countries have been trying to find alternatives to Russian gas, with success, for this winter, which has led to a strong rebound in the LNG market and a stimulus for new investment.

However, the market is likely to remain under pressure for a long time (at least until 2025) pending the start-up of new liquefaction units, the analyst warns.


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