Oddo BHF reiterates its 'outperform' rating on TotalEnergies, with a price target raised from 66 to 69 euros, as the stock is one of its favorite oil stocks, alongside Shell and Repsol, to play the LNG theme.

The research firm points out that EU countries have successfully stepped up their attempts to find alternatives to Russian gas for this winter, leading to a strong rebound in the LNG market and stimulating new investment.

However, the market is likely to remain under long-term pressure (at least until 2025) pending the start-up of new liquefaction units", warns the analyst in his sector note.

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