TD Cowen upgraded TotalEnergies (TTE) to Buy from Hold with a price target of $97, up from $80. TD names TotalEnergies its top pick in integrated oil. The company has “peer-leading” free cash flow growth, production growth, reserve/production, and return on common equity, the analyst tells investors in a research note. TD thinks TotalEnergies should grow production by 3% annually from 2025 to 2030, the second strongest pace in the group. It says the company is “past the trough.”
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