Opportunities this week:
- Beyond the recent announcement of its second-quarter 2025 financial results, TotalEnergies has been active with several strategic initiatives across its operations, we retain our Overweight recommendation with a PT of €62. (c. 20% upside)
- Last week, there were a number of unrelated news items regarding Rio Tinto, we continue to rate the stock Overweight with a PT of 5590p.
- Following a mixed H1 trading statement from Nestle, we are upgrading our recommendation on Nestle from Neutral to Overweight with a revised PT of CHF87.76 from CHF86.00. (c.19.5% upside)