(CercleFinance.com) – TotalEnergies gained almost 1% in Paris, taking advantage of an analysis by Bernstein which raised its recommendation from ‘market performance’ to ‘outperformance’ on the stock with a new target price of 70 euros, judging the stock’s valuation is low after having underperformed its peers since the start of the year.
Having reassessed the French energy group’s LNG portfolio, the broker indicates that its initial concerns about the constraints to growth – in a tense market – linked to Russia have now subsided.
Bernstein also believes that TotalEnergies offers investors exposure to a unique combination of old and new growth engines, as well as having one of the strongest balance sheets and a most resilient dividend.
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