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TechnipFMC: Société Générale a buyer once again.

(CercleFinance.com) - Société Générale (SG) has just initiated its coverage of the oil services company TechnipFMC stock with a buy rating.

"We believe that the industry is now at a turning point," argue analysts, who have given the stock a 12-month target price of 33 euros, with the share traded on Wall Street a target price of 38 dollars.

Analysts point out that before the group's merger with FMC - finalised at the start of 2017 - they were sellers of Technip shares. However, after reviewing the "new" group, analysts reach the conclusion that:

TechnipFMC could be six to nine months ahead of its target of about 180 million dollars in synergies in the Subsea segment, SG's report first points out. In addition, Yamal (a big gas project in Russia) could pleasantly surprise, while the capital intensity of its business should decline.

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