[ad_1]
(CercleFinance.com) – Oddo BHF maintains its ‘outperform’ rating on TotalEnergies shares with an unchanged price target of 72 euros.
The analyst returns to the strategy presented yesterday by TotalEnergies. The group confirmed its production growth guidance of 4% and indicated that it would extend it until 2030 with excellent visibility and a pipeline of a dozen well-identified projects.
‘The group remains selective in its projects with a breakeven point below $20/bbl and is fighting to keep its production costs below $5/boe, the lowest in the industry,’ reports the broker.
Finally, the group has reassured by maintaining its share buyback program for 2024 at $8 billion and promises to maintain this pace in 2015 with $2 billion/quarter, in reasonable market conditions.
Thus, ‘the group has reassured on the three key subjects, growth, return to shareholders and profitability’, concludes Oddo BHF.
Copyright © 2024 CercleFinance.com. All rights reserved.
Did you like this article? Share it with your friends using the buttons below.
[ad_2]
Source link -85