TechnipFMC: Credit Suisse targets 30.5 euros.
(CercleFinance.com) - In a sector report on European oil services companies, Credit Suisse confirmed its outperform rating on the TechnipFMC share.
The broker has also nudged up its target price from 30 euros to 30.5 euros.
According to an in-house Credit Suisse tool, orders placed with oil services companies worldwide have exceeded 60 billion dollars since the beginning of 2017, i.e. 40% more than at the same time a year ago.
In spite of the recovery in order intake, order books continue to decline as contracts in the previous cycle are executed. However, the share of offshore orders is rising amongst new contracts, which Credit Suisse considers encouraging.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker has also nudged up its target price from 30 euros to 30.5 euros.
According to an in-house Credit Suisse tool, orders placed with oil services companies worldwide have exceeded 60 billion dollars since the beginning of 2017, i.e. 40% more than at the same time a year ago.
In spite of the recovery in order intake, order books continue to decline as contracts in the previous cycle are executed. However, the share of offshore orders is rising amongst new contracts, which Credit Suisse considers encouraging.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.