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AlphaValue/Baader Europe Boosts Rating, Forecasts for TotalEnergies Amid Commodity Price Growth

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AlphaValue/Baader Europe upgraded its rating and earnings projections for TotalEnergies (TTE.PA, TTE.L), noting a "materially stronger" commodity environment.

In a Tuesday note, the research firm's rating for the stock moved to add from reduce, with a price target of 91.3 euros. Meanwhile, EPS estimates for the energy giant were lifted by 83.7% to $13.5 for 2026 and by 30.2% to $10.1 for 2027.

"We have revised adjusted EPS upward, driven by the higher Brent and TTF deck feeding through to realised prices and gas margins, on top of resilient FY25 delivery. The upgrade is partly offset by elevated cash [capital expenditure] and a higher 39.1% effective tax rate," analysts said.

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