TotalEnergies (NYSE: TTE) Stock Analysis: Cowen & Co. Maintains "Buy" Rating Amidst Operational Challenges and Strong Earnings Forecast

• Analyst firm Cowen & Co. reaffirmed its "Buy" rating for TotalEnergies (NYSE: TTE), signaling confidence in the energy stock's future performance.
• Despite the positive rating, the price target for TotalEnergies was adjusted downwards to $102.00 from $105.00, potentially due to recent operational challenges like worker strikes.
• The company anticipates a significant rise in first-quarter earnings, bolstered by higher upstream production prices and a new hydrocarbon discovery in the Republic of Congo, even with a 15% production shutdown.

TotalEnergies (NYSE: TTE) is a major French global energy company. Its operations include oil and gas exploration, production, and sales. The company has a large retail presence, owning a quarter of the service stations in France. This significant footprint makes it a key player in the country's energy sector and a major employer.

On April 20, 2026, analyst firm Cowen & Co. confirmed its "Buy" stock rating for TotalEnergies. A "Buy" rating suggests that the analyst believes the stock's price will increase in the future, indicating a positive investment outlook. At the time of the rating, the stock was trading at $87.07 per share, with a daily range between $85.30 and $87.31.

Alongside the rating, the firm lowered its price target for TotalEnergies to $102.00 from $105.00. This price target adjustment may reflect recent operational challenges, such as a strike by its service station workers in France. As highlighted by Reuters, employees are protesting for higher salaries amid rising fuel costs, creating some market sentiment uncertainty for the company.

Despite the lower target, the "Buy" rating is supported by a strong financial outlook. As reported by Reuters, TotalEnergies expects a significant rise in first-quarter earnings. This positive earnings forecast is driven by higher prices for its upstream production and oil sales, which have increased due to the war in Iran.

This positive earnings forecast comes even as the conflict forces TotalEnergies to shut down 15% of its overall production capacity. Additionally, the company announced a new hydrocarbon discovery offshore the Republic of Congo, as highlighted by Reuters. This find helps expand its existing Moho field operations and adds to its long-term resources and growth potential.