Piper Sandler raised the firm’s price target on TotalEnergies to $79 from $75 and keeps a Neutral rating on the shares ahead of quarterly results. The firm views IOCs as increasingly well positioned within energy, and while near-term refining valuations probably got a bit overextended recently, there is growing investor confidence in “higher for longer” margins driven by continued market tightness into 2025+, driving far more attractive and sustainable shareholder returns than appreciated.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TTE:
- SLB awarded three contracts by Petrobras for completion hardware, services
- GUNR ETF: Diversified Access to Surging Commodities Stocks
- TotalEnergies price target raised to EUR 78 from EUR 71 at Morgan Stanley
- TotalEnergies price target raised to $86 from $74 at Scotiabank
- Shell appeals against ruling ordering to cut greenhouse gas emissions, FT says