0710 GMT - TotalEnergies is set to outperform its European rivals and the market underestimates the strength of its upstream business, Citi analysts write. The analysts expect 6% a year real growth in cash flow from operations (CFFO) through 2030--a figure well above those of key European peers and even on-par or slightly ahead of U.S. integrated oil companies, they write. Investors underappreciate the volume and margin growth across its upstream division, and the analysts forecast for CFFO from 2028 through 2030 to be 11% above a VisibleAlpha consensus. The analysts upgrade the stock rating to buy from neutral and raise share price target to 70 euros from 61 euros. Shares closed Tuesday at 59.35 euros. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
March 26, 2025 03:10 ET (07:10 GMT)
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