TotalEnergies (TTE) Price Target Raised by $10

TotalEnergies SE (NYSE:TTE) is included among the 14 Best LNG Stocks to Buy Now.

TotalEnergies SE (NYSE:TTE) is a global integrated energy company that produces and markets energy. The company has always been closely involved in the whole natural gas and LNG supply chain, from extraction, transportation, liquefaction, and shipping, to regasification, marketing, and trading.

On February 17, TD Cowen raised its price target on TotalEnergies SE (NYSE:TTE) from $70 to $80, while maintaining a ‘Hold’ rating on the shares. The analyst noted that Total’s power business is benefiting from the strong data-center demand, with growth prospects extending beyond the end of this decade. Moreover, TD Cowen highlighted that Namibia may have enough resources to support more than two floating production, storage, and offloading vessels. These developments could be drivers for Total’s free cash flow growth in the next decade.

It is worth noting that on February 6, TotalEnergies SE (NYSE:TTE) announced it had acquired a 42.5% stake in an offshore exploration license off Namibia, as the company looks to expand its holdings in the southern African country. The French oil major has obtained between 25% and 40% of its oil and gas from Africa over the last two decades, and is now betting on Namibia to replenish its reserves.

READ NEXT: 12 Best Crude Oil Stocks to Buy as Tensions Rise and 10 Best American Oil and Gas Stocks to Buy.

Disclosure: None.  Follow Insider Monkey on Google News.