TotalEnergies shares among the biggest gainers on the CAC 40 after Jefferies
The oil major is among the stocks lifting the Parisian market at midday, while the index remains modestly higher. A price target raise was issued this morning by a brokerage, and the group has remained little influenced by its recent news, dominated by gas agreements and climate commitments.
A stock rising but still below its MM20 after a week of decline
The stock gains 1.59% to €79.44, the fourth-best performance on the CAC 40, which rises 0.28% at the same time. This rebound is not enough to erase the 3.95% decline over the week: the share price remains below its 20-period moving average (MM20) of €81.55, 2.59% higher, and close to its MM50 at €79.53.
By contrast, the stock retains a 6% margin above its MM200 (€74.93), which preserves the medium-term outlook after an all-time high reached on October 29 at €84.87, following the third-quarter results.
Brent crude, at $92.89 a barrel, gains 1.53% intraday after a decline of nearly 13% over eight sessions.
Jefferies raises its target to €92 and confirms its buy rating
Jefferies raised its price target this Wednesday from €90 to €92, with a buy rating, implying potential of about 16% relative to the day's share price.
On Tuesday, LBBW had raised its target from €80 to €87 and upgraded the stock from 'hold' to 'buy'. These two revisions follow the quarterly publication of October 29, which showed an adjusted profit up 51% between the second and third quarters.
According to the consensus of recorded analysts, the stock trades at about 6.9 times current-year earnings. The analysts' opinion therefore remains the main reference point of the day, in the absence of any scheduled financial event.
