TotalEnergies Gives Visibility to Growth Plans

Dow Jones
Sep 29

0645 GMT - TotalEnergies gave near-unprecedented visibility of its growth plan, Barclays analyst Lydia Rainforth writes in a note after the French energy major's capital markets day. The plan through 2035 is supported by projects across its upstream business and growth in its integrated power unit, she says. The free cash flow growth that the plan will deliver is not reflected in the share price, she adds. The company is targeting upstream production growth of more than 3% a year to 2030 and then between 2% and 3% growth over 2031 to 2035. Shares closed Monday at 80 euros.

 

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