TotalEnergies Share: One of the Strongest Gains on the CAC 40, the Stock Rises 1.5%
The oil company stands out alone at midday, in a declining CAC 40. The share reaches the top of the Paris index while JP Morgan raises its price target.
A Share Rising Against the Trend of a Falling CAC 40
TotalEnergies advances 1.7% to €76.70 during the session, while the CAC 40 falls 0.76% and the SBF 120 0.81%. The share is among the strongest gains on the index, behind Capgemini. Brent trades at $104.37 per barrel, up 4.16% on the day, which aligns with a security whose price has historically followed oil movements.
The rebound comes after a decline in the previous week. The price remains below its 20-day moving average (gap of -1.84%) and its 50-day average (gap of -0.27%), while staying above its 200-day average (+6.84%). Over one year, the gain reaches 50.78%.
JP Morgan Raises its Target to €85 and UBS Remains a Buy
JP Morgan raised its price target today from €83 to €85 with a neutral opinion, leaving an upside potential of approximately 11% compared to the current price. UBS, for its part, raised its target from €88 to €89 on October 6 while maintaining its buy rating, representing potential of approximately 16%. The consensus of analysts on the security therefore remains oriented upward.
In terms of valuation, the share trades at approximately 7.3 times the earnings of the current fiscal year according to the consensus of surveyed analysts. Support is located at €74.17, resistance at €81.05.
