Market Overview

UPDATE: Canaccord Upgrades Total to Hold

Share:
Related TOT
Jefferies Downgrades Occidental, Upgrades Total And Eni As Integrated Oil Picture Gets Tougher
A New ETF Avenue To Europe
Dividend Cut Risk of the 6 Oil Super Majors (GuruFocus)

In a report published earlier today, Canaccord Genuity upgraded its rating for Total S.A. (NYSE: TOT) from Sell to Hold, but did not name a price target.

Canaccord went on to say “The past two months have seen little sign of the typical defensiveness from the European integrated oils. We don't think this is too surprising, since 1) the larger Eurozone stocks have acted to some degree as proxies for their domestic markets for much of the past two years and 2) we think much of crude's recent strength was simply due to risk appetite, which is why we have seen such a sharp correction in crude in line with the market in recent weeks. Absolute valuations are now discounting long-term crude prices way below current levels, but investor sentiment towards the sector still seems highly nervous.”

Total S.A. closed yesterday at $44.39.

Latest Ratings for TOT

DateFirmActionFromTo
Jan 2016JefferiesUpgradesHoldBuy
Dec 2015Bank of AmericaUpgradesHoldBuy
Sep 2015BMO CapitalInitiates Coverage onOutperform

View More Analyst Ratings for TOT
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Upgrades Analyst Ratings

 

Related Articles (TOT)

View Comments and Join the Discussion!

Get Benzinga's Newsletters