(News Bulletin 247) – Jefferies maintains its buy rating on the TotalEnergies share with an unchanged price target of 66 euros, while TotalEnergies will organize its CMD (investor day) on September 27.
The analyst detects an upside potential compared to TotalEnergies’ volumetric objectives, particularly in the fields of oil, LNG and renewable energies.
Outside Russia, TotalEnergies currently plans to increase its LNG production to 18 million tonnes per year in 2027 and 25 million tonnes per year in 2030 (compared to 11 million tonnes per year in 2022), reports the analysis office.
According to Jefferies, TotalEnergies is also expected to provide information on its oil production in Namibia and Suriname at the CMD.
Finally, following the acquisition of the remaining 69.4% of EREN in July, TotalEnergies should be able to improve its renewable energy capacity targets (gross capacity of 35 GW by 2025 and 100 GW by 2030), believes Jefferies.
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