Executive Summary In this report, we have updated our valuation on Kenya’s only listed downstream oil marketer, TotalEnergies Marketing Kenya. We reinitiate coverage and retain a BUY recommendation on TotalEnergies Marketing Kenya (TKNL KN) with a fair value estimate of KES 56.30, a 60.4% upside. In 2024, the counter’s price function gained 11.1%, albeit underperforming…
Highlights U.S. equities ended the week higher after recovering from the prior Friday’s steep decline—the S&P 500’s worst day since April. The week began on a positive note, helped by signs that U.S.-China trade tensions were easing, dovish remarks from Federal Reserve officials, and several AI-related deal announcements. The start of earnings season added support,…
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