TotalEnergies Shares Drop 2% Despite Oddo BHF's Raised Target to €85

Current Trading Conditions

TotalEnergies shares are trading at €78.13 in mid-afternoon, down 1.92% from the previous closing price of €79.66. This decline occurs on a day marked by Brent crude falling below $100, at $98.41 per barrel, a level not seen for several weeks. The drop in crude is due to the lingering hope of resuming negotiations between Washington and Tehran, despite the failure of talks in Islamabad. While the U.S. naval blockade against Iranian ports is now in effect, causing severe tensions in the Strait of Hormuz, tankers under sanctions — notably Chinese — continue to transit the area. However, the Executive Director of the IEA has warned that April could prove even more challenging than March for the energy sector, even with a rapid de-escalation. In this context, Shell PLC is down 2.53% and Engie has fallen 0.72%, confirming sectoral pressure in Europe. Despite this negative session, TotalEnergies' quarterly performance remains remarkable: the stock is up 38.21% over three months and 60.55% over a year.

Revised Price Target by Oddo BHF

This Tuesday, Oddo BHF has raised its price target on TotalEnergies from €70 to €85, while maintaining its 'outperform' rating. At the current price of €78.13, this new target implies an upside potential of about 8.8%. From a technical analysis perspective, the 50-day moving average, currently at €70.29, is significantly below the current price, confirming a medium-term upward trend. The RSI stands at 62, a level that indicates positive momentum without signaling an overbought zone. The stock is positioned in the upper half of its Bollinger Bands (upper bound at €82.32, lower bound at €72.61), at 57% of the band, reflecting a balanced positioning. The next major milestone for the stock is the release of the first-quarter results, scheduled for April 29.