(CercleFinance.com) – TotalEnergies recorded an increase on Friday on the Paris Stock Exchange, extending its progression of recent sessions in the wake of oil which confirms its return to highs of almost a year.
In London, Brent from the North Sea advanced by 0.5% to go back above 90 dollars, while on the NYMEX, American light crude rose by 0.3% beyond 87.1 dollars.
Oil prices rose strongly this week, supported by the decision of Saudi Arabia and Russia to limit their production.
Beyond the strength of crude prices, the title TotalEnergies also benefits from a positive rating from analysts at Royal Bank of Canada, who raised their price target on the value.
In a note released in the morning, RBC said it had raised its target from 60 to 65 euros ahead of the group’s investor day, which will be held on September 27.
‘The TotalEnergies share has posted solid performances in recent months and this meeting should be an opportunity to confirm the strategic discipline shown by the group’, indicates the broker.
The latter, however, maintains his ‘performance in line’ opinion on the stock, seeing other opportunities within the sector after the stock’s recent rise.
Shortly before 4:00 p.m., Total shares gained 0.5% in sustained volumes, marking one of the most notable gains in the CAC 40 index.
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