Key Takeaways
- Scotiabank has reiterated its "Buy" rating for Shell (SHEL), maintaining a price target of $80.00.
- For TotalEnergies SE (TTE), Scotiabank has affirmed a "Hold" rating with a price target of $65.00.
- These updated price targets reflect Scotiabank's continued evaluation of the dynamics within the U.S. Integrated Oil, Refining, and Large Cap Exploration and Production sectors.
Scotiabank Maintains Bullish Stance on Shell
Scotiabank has maintained its "Buy" rating for Shell (SHEL), with the firm's analyst Paul Cheng affirming a price target of $80.00. This target was initially boosted from $70.00 to $80.00 on July 11, 2025, and has been consistently maintained since, including an update on August 1, 2025. The "Outperform" rating on Shell underscores Scotiabank's confidence in the energy giant's performance potential.
The adjustment for Shell forms part of Scotiabank's broader review of price targets across the U.S. Integrated Oil, Refining, and Large Cap Exploration and Production (E&P) sector. While some previous reports indicated a cut from a higher target, the latest and most consistent information from Scotiabank places Shell's target at $80.00.
TotalEnergies Sees Price Target Maintained at $65.00
In a separate move, Scotiabank has reiterated its "Hold" rating for TotalEnergies SE (TTE), setting a price target of $65.00. This target was raised from $60.00 on July 11, 2025, and has been reiterated as recently as October 1, 2025. The "Sector Perform" rating suggests that Scotiabank expects TotalEnergies to perform in line with its industry peers.
Analyst Paul Cheng from Scotiabank has been consistent with this rating and price target for TotalEnergies. This re-evaluation aligns with the firm's ongoing assessment of market conditions and sector dynamics affecting major energy players. TotalEnergies has a market capitalization of approximately $151.63 billion, reflecting its significant presence in the energy sector.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.