Berenberg, Citi, JPMorgan Bump TotalEnergies Price Targets to EUR75; Santander Downgrades
Berenberg lifted its TotalEnergies price target to EUR 62 from EUR 57, while Citi raised its target to EUR 75 from EUR 71 and JPMorgan upgraded the stock to Overweight with a EUR 75 target. Grupo Santander downgraded its rating to Neutral from Outperform on February 26. JPMorgan cited full-scale Middle East military strikes as a materialized tail risk that supports valuation upside for global integrated energy names.
1. Analyst Ratings Shifts
Berenberg raised its TotalEnergies price target to EUR 62 from EUR 57 on March 3, while Citi increased its target to EUR 75 from EUR 71 on March 2. On February 26, Grupo Santander downgraded its rating from Outperform to Neutral, reflecting mixed analyst views on near-term energy market dynamics.
2. JPMorgan Upgrade Rationale
On March 2, JPMorgan upgraded TotalEnergies to Overweight from Neutral and lifted its price target to EUR 75 from EUR 63. The bank pointed to full-scale military strikes in the Middle East as a realized tail-risk event that could boost crude price scenarios and enhance valuation support for integrated energy companies.
3. TotalEnergies Business Overview
TotalEnergies operates through Exploration & Production, Integrated LNG, Integrated Power, Refining & Chemicals, and Marketing & Services segments. The company produces natural gas, biofuels, oil, renewables and electricity from its headquarters in Courbevoie, France, positioning it across traditional and low-carbon energy markets.