TotalEnergies Bolsters LNG Presence In China With 15-Year Supply Deal: Details
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
TotalEnergies and Sinopec Agreement: TotalEnergies has signed a Heads of Agreement with Sinopec to supply 2 million tons of LNG annually for 15 years starting in 2028, enhancing its position in China's LNG market following a strategic cooperation established during President Xi Jinping's visit to France.
Market Performance: Following the announcement, TotalEnergies shares rose by 0.80% to $62.97, despite reporting a third-quarter EPS of $1.74 that fell below expectations, while revenue exceeded estimates at $52.02 billion.
Analyst Views on MVPA
Wall Street analysts forecast MVPA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MVPA is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
