CAL Brokers Limited (CBL) has initiated coverage of Total Ghana Ltd with a BUY recommendation based on what the stockbroker termed as “a number of interesting events currently happening within and around the company”. CBL expects a total holding period return of nearly 21% for investors in 12 months.
CBL noted that TOTAL's value destroying subsidiaries have started to create value for the company, buoyed by favorable macroeconomic conditions that are supporting the company's business model.
CBL is also optimistic that TOTAL's strong brand presence across the country and sustained investment its core business would lead to sustainable value creation for shareholders going forward.
However, foreign exchange risk remains a key threat to CBL's valuation of the company.
CBL clients and prospects can contact the CBL team to open a brokerage account and trade in shares of TOTAL using the CBL's I-broker trading platform.
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