BofA Lifts PT on TotalEnergies SE (TTE) to EUR 75 From EUR 70 – Here’s Why

Core Viewpoint - TotalEnergies SE is identified as one of the most undervalued energy stocks currently available for investment, with recent price target increases from major financial institutions indicating positive market sentiment towards the company [1][2]. Price Target Updates - BofA raised the price target for TotalEnergies SE to EUR 75 from EUR 70, maintaining a Buy rating, citing increased oil and gas price forecasts due to potential risks associated with the Strait of Hormuz [1]. - Piper Sandler increased its price target for TotalEnergies SE to $92 from $74 while maintaining a Neutral rating, attributing this adjustment to a $5.00/bbl increase in mid-cycle WTI price forecasts influenced by the ongoing war in Iran [2]. Market Outlook - Piper Sandler's commodity macro team anticipates that crude balances for 2026 will tighten by approximately 2.0 million barrels per day compared to previous expectations, indicating a potential shift in market dynamics [3]. - The firm also noted that lingering impacts and risk premiums, along with global resource tightening, will necessitate higher future investments in the energy sector [3]. Company Overview - TotalEnergies SE operates as a global integrated energy company, involved in the production of natural gas, green gases, oil, biofuels, renewables, and electricity, with its headquarters located in Courbevoie, France [4]. - The company functions through various business segments, including Exploration & Production, Integrated LNG, Integrated Power, Refining & Chemicals, and Marketing & Services [4].