(News Bulletin 247) – With a jump of nearly 32% since January 1, TotalEnergies shares are posting one of the best performances in the CAC40 index in 2022, after Thales, which achieved an annual gain of 59% order.
A sharp increase in the stock which is linked to the war in Ukraine and the crisis in the energy sector. Other values have also soared, such as the Exxon Mobil stock, which has gained nearly 88% since January 1.
Oddo BHF had reaffirmed its ‘outperformance’ opinion on TotalEnergies in mid-October, while raising its target price from 60 to 66 euros, with EPS raised by 11% in 2022 and 27.5% in 2023 due in particular to a higher oil price scenario.
The research department pointed out that the energy group ‘offers an FCF yield of around 25% coupled with an excellent overall return (including share buybacks) of 12%, one of the best in the sector and a very good visibility.
Berenberg had also reiterated his ‘buy’ advice on TotalEnergies last October and raised his price target slightly to 65 euros, leaving his EPS estimate broadly unchanged for 2022, but increasing that for 2023 by 2% due to weaker gas results. solids expected.
‘The group remains well positioned to grow in LNG over the medium term, has an attractive pipeline of conventional projects to support cash flow in E&P (exploration and production) and continues to have the most ambitious growth plans’ , had underlined the analyst.
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