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UBS has maintained a 'Buy' rating for TotalEnergies, setting a target price of 67 euros. The French company's quarterly results met expectations, which had been previously adjusted, according to analyst Henri Patricot. TotalEnergies operates across various sectors, including refining, distribution, and electricity generation.
TotalEnergies reported a 37% drop in adjusted net income for the third quarter, totaling $4.2 billion, slightly below analyst expectations. Adjusted EBITDA fell 23.6% year-on-year to $10 billion, as the company faced a significant 65% decline in refining margins.
TotalEnergies SE experienced a larger-than-expected profit decline in the third quarter, driven by falling refining margins and oil prices. As the energy sector adjusts from a period of high prices, weak economic growth in Europe and China is dampening demand, impacting the financial stability of major companies in the industry.
Weaker crude prices and refining margins are pushing four of the five supermajor oil companies to borrow funds for $15 billion in share buybacks this quarter, raising concerns about the sustainability of these payouts. Exxon Mobil, Chevron, TotalEnergies, and BP are projected to see a 12% decline in earnings, totaling $24.4 billion, leaving them unable to cover dividends and buybacks with free cash flow, which is expected to drop by 30% year-over-year. Only Shell is expected to manage its payouts without borrowing.
Factorial has launched the Solstice battery, featuring a sulfide-based electrolyte and a breakthrough energy density of up to 450Wh/kg, promising to extend EV range by 80% while reducing weight and costs. The innovative dry coating process enhances sustainability by eliminating hazardous solvents and energy-intensive steps in production. Stellantis plans to showcase Factorial's solid-state FEST battery in the new Dodge Charger Daytona EV by 2026, aiming for improved performance and efficiency in its upcoming electric vehicle lineup.
UBS maintains a "Buy" rating for TotalEnergies, setting a target price of EUR 67.00, citing an improved risk/reward ratio and positive outlook for its liquefied natural gas business. Meanwhile, oil prices dipped due to rising US crude inventories, with geopolitical tensions in the Middle East continuing to impact the market. TotalEnergies is viewed as undervalued, with a solid balance sheet and favorable dividend valuation.
UBS has maintained a 'Buy' rating for Totalenergies, setting a target price of 67 euros. Analyst Henri Patricot noted that the company's recent strategy, particularly regarding its liquefied natural gas business, has improved the risk/reward ratio, making the outlook more favorable.
UBS has maintained its "Buy" rating for Totalenergies, setting a target price of 67 euros. Analyst Henri Patricot noted that the company's recent strategy, particularly regarding its liquefied natural gas business, has improved the risk/reward ratio, indicating a more favorable outlook.
UBS has maintained a 'Buy' rating for TotalEnergies with a target price of 67 euros, despite expectations of a weak third quarter. Analyst Henri Patricot has lowered his estimates for the oil and gas producer, indicating they fall below consensus expectations. As of October 17, TotalEnergies shares are trading at approximately 59.79 euros, reflecting a slight increase of 0.62%.
UBS has maintained a "Buy" rating for Totalenergies, setting a price target of 67 euros, despite expectations of a weak third quarter. Analyst Henri Patricot noted a reduction in estimates for the oil and gas producer, which he believes will fall below consensus expectations.
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