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Forum - TOTAL S.A - TOT   

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From: supertrader88 (Rep: 3)Date: 11/13/2008 08:18
Forum: TOTAL S.A - Msg #3Thread #672426496 (Rec: 0)
MARKET TALK: Citigroup Downgrades Total To HoldLast update: 11/13/2008 8:11:44 AM1311 GMT [Dow Jones] Citigroup downgrades Total (TOT) to hold from buy and cuts the target price to EUR43 from EUR52, "Valuation case is becoming less clear." Citi says the resource base is being gradually shifted toward long-life, high-net value, but lower-return assets, like oil sands and liquefied natural gas. Says those projects may end up being delayed amid uncertainty over oil prices, threatening medium-to-longer-term growth. The bank says investments earlier in the decade while some peers were cutting, haven't made themselves "more manifestly obvious." Also says management remains relatively untested. Shares +0.3% at EUR39.41. (AMI)

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