UBS reiterates its buy recommendation on the share and its target price of E67 following the announcement of annual results. This target represents an upside potential of 15%.

' Results were in line with expectations. Net income of $5.2 billion in Q4 2023 was 1% below consensus of $5.3 billion (UBSe forecast $5.5 billion). CFFO excluding WC of $8.5 billion was 1% below consensus against Visible Alpha's forecast of $8.6 billion (UBSe forecast of $9.8 billion)' says UBS.

TotalEnergies reported adjusted net income for fiscal 2023 down 36% to $23.2 billion, or $9.40 per share (-33%), and adjusted EBITDA down 30% to $50 billion.

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