Berenberg Raises Target for Totalenergies to 78 Euros - 'Hold' Rating The private bank Berenberg has raised its price target for Totalenergies from 62 to 78 euros, but maintained its rating at "Hold." In a sector analysis published on Wednesday afternoon, analyst Henry Tarr noted that the baseline scenario regarding the uncertainties of the Iran conflict remains that the Strait of Hormuz would reopen around mid-Second Quarter. This development is expected to lead to gradually declining oil prices over the following months. Tarr adjusted his base assumptions for the Brent crude oil price in 2026 and 2027 upward. He highlighted that the highest potential for stock price gains would be seen in Shell, BP, and Repsol if oil prices remain below $100 per barrel. The analysis underscores the ongoing geopolitical tensions affecting global energy markets. Tarr’s assessment suggests that the reopening of the Strait of Hormuz, a critical maritime route for oil exports, could alleviate supply constraints and stabilize prices. However, the analyst acknowledges the persistent risks posed by the Iran conflict, which continues to create volatility in the sector. The revised price target for Totalenergies reflects optimism about the company’s long-term prospects amid these uncertainties, though the "Hold" rating indicates a neutral stance on immediate investment recommendations. The updated assumptions for Brent crude prices highlight the analyst’s confidence in a gradual recovery in the oil market. By projecting higher prices for 2026 and 2027, Tarr positions Totalenergies as a company with resilience against fluctuating market conditions.#strait_of_hormuz #shell #totalenergies #berenberg #henry_tarr
