Analyst: Victoria Ejugwu*Target price: ₦378.63Rating: SELLRevenue performance largely comes in line with expectations.In its recently released 9M earnings results, TOTAL reported revenue growth of 20% y/y to ₦422.6 billion, coming in slightly above our estimate (Vetiva estimate: ₦403.3 billion). The company’s fuel business remained the primary driver for this growth, with fuel turnover coming in…
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