TD Cowen Raises TotalEnergies Price Target 14% to $80
TD Cowen lifted its TotalEnergies price target 14% to $80 from $70 while retaining a Hold rating, citing power-unit upside from surging data-center demand and long-term growth through decade’s end. On February 6 TotalEnergies acquired a 42.5% stake in an offshore Namibian exploration license with resources to support over two FPSOs.
1. Price Target Raised to $80
On February 17 TD Cowen increased its TotalEnergies price target from $70 to $80, representing a 14% uptick, while maintaining a Hold rating based on balanced risk-reward assumptions for the stock.
2. Power Business Benefits from Data-Center Demand
The analyst highlighted that TotalEnergies’ power segment is experiencing robust growth driven by strong data-center electricity requirements, with prospects expected to extend beyond 2030 as cloud infrastructure continues to expand.
3. Acquisition of Namibian Exploration Stake
On February 6 TotalEnergies completed the acquisition of a 42.5% interest in an offshore exploration license off Namibia, marking its latest move to bolster reserves and diversify geographic production sources.
4. FPSO Potential and Free Cash Flow Outlook
Exploration data suggests the Namibian license could support more than two floating production, storage and offloading vessels, a factor expected to underpin free cash flow growth over the next decade.