DNNGY - TotalEnergies upped to Buy at Berenberg on growth outlook cash generation

May, 13 2022 12:05 PM Orsted A/S ADR

TotalEnergies (NYSE:TTE) +3.1% in Friday's trading as Berenberg upgrades shares to Buy from Hold, saying the company's ability to generate cash and its growth opportunities are attractive, outweighing material Russia-related risk the firm says is largely priced into the stock price. TotalEnergies (TTE) has upgraded its H1 stock buyback to $3B, and Berenberg says the company's high cash flow and the current environment make it sustainable to continue buybacks at this pace, adding that its dividend yield is one of the highest offered in the sector. The company has potential to grow in Brazil, Mozambique, the U.S. and Suriname, the brokerage also says. Energy stocks are scoring broad gains in Friday's trading as crude oil prices rebound, up ~3.5% over $110/bbl. Separately, TotalEnergies (TTE) and Engie (OTCPK:ENGIY) reportedly are considering a potential acquisition of the renewable energy unit of French retailer Casino, valued at ~€1.5B. Also, TotalEnergies (TTE) said it

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TotalEnergies upped to Buy at Berenberg on growth outlook, cash generation

Company Name:	Orsted A/S ADR
Stock Symbol:	DNNGY
Market:	OTC

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