TD Cowen Cuts TotalEnergies Price Target, Keeps Buy Rating

TD Cowen has trimmed its price target on TotalEnergies SE (NYSE: TTE) from $106 to $102, while reaffirming a Buy rating on the stock. The revised target still implies an upside potential of nearly 31% from current levels, according to the firm. The adjustment comes as part of a broader review of estimates in the oil majors space ahead of second-quarter earnings.

The lowered price target reflects TD Cowen's updated expectations for the oil sector, particularly after a recent rapid correction in crude oil prices. For energy traders, this signals that near-term profit expectations for integrated oil companies may be tempered, but the long-term outlook remains constructive. The Buy rating suggests the analyst sees value in TotalEnergies' diversified energy portfolio, which includes both traditional oil and gas and growing renewable energy assets. Live fuel prices and charts on NowPrice show how the market is reacting to these shifting analyst views.

Investors will now focus on TotalEnergies' Q2 earnings report, due later this month, for further clarity on production volumes, refining margins, and progress on its energy transition strategy. The broader oil market will also watch for OPEC+ supply decisions and demand signals from China, which could influence the sustainability of the current price recovery. The $102 target provides a near-term benchmark for traders assessing the stock's risk-reward profile.