TOTAL SENEGAL Report (December 2016)
We believe TOTAL SENEGAL's stock fair value is estimated at XOF 15 400 based on 2016 expected results, less than the current price (XOF 19 000). The very short term outlook is not positive, since the company is facing serious inventory loss. The estimated drop in 2016 results should continue to put downward pressure on the stock price. However, over the medium term, the stock should recover amid the good results anticipated after 2016. Therefore, we recommend a hold on TOTAL SENEGAL.
Hudson is an integrated securities firm, member of the West Africa regional stock exchange (BRVM) that offers a large array of financial services including brokerage, custody, sell-side research, investment management, investment banking and advisory, issuer services. Hudson's African and International client base includes governments, financial institutions, high net worth individuals, and corporate from various industries.
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