Bernstein Upgrades TotalEnergies SE (TTE) Stock, Reduces PT
TotalEnergies SE (NYSE:TTE) is one of the Top Energy and Utility Stocks Wall Street Analysts Are Talking About. On June 17, Bernstein upgraded the company's stock from 'Market Perform' to 'Outperform,' adjusting its price target to EUR 67.00 from EUR 69.00. The firm's analyst Irene Himona highlighted that the company has performed fairly weekly in dollar and euro terms. However, the analyst opines that the weakness has gone far enough.
Wind turbines against a backdrop of the sky, signifying the power of renewable energy.
The firm also pointed to TotalEnergies SE (NYSE:TTE)'s industry-leading low upstream costs, ranking it as the best in class on unit production costs. Furthermore, the company remains well-positioned at the very low end of the curve on non-OPEC marginal costs, added Bernstein.
TotalEnergies SE (NYSE:TTE) is projected to deliver one of the strongest 2025-26 production growth rates among established peers. The research note also stated that the company remains well placed for both market scenarios. These include risks to the upside due to war, and downside risks because of a fundamentally oversupplied oil market in 2025-26. TotalEnergies SE (NYSE:TTE) announced the acquisition from Low Carbon of a pipeline of 8 solar projects with a capacity of 350 MW and 2 battery storage projects possessing a capacity of 85 MW.
Since the solar projects are at an advanced stage of development, they can be operational by 2028. They are expected to produce over 350 GWh/year of renewable electricity, equivalent to the electricity consumption of ~100,000 UK households.
While we acknowledge the potential of TTE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TTE and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now
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