TotalEnergies price target raised to EUR 80 from EUR 78 at Morgan Stanley

Morgan Stanley raised the firm’s price target on TotalEnergies to EUR 80 from EUR 78 and keeps an Overweight rating on the shares. In a note on the European Energy sector, the firm said the sector typically performs well when three factors come together – rising oil & gas prices; rising inflation expectations; and rising interest rates. However, at the moment, none of these factors are in place, the analyst noted, adding that Q2 earnings for European Energy stocks are “unlikely to surprise positively.”