TechnipFMC: up after broker upgrade
(CercleFinance.com) - The TechnipFMC stock is up 1.
5% today, boosted by Jefferies, which has upgraded its rating on the Franco-American oil services group from "hold" to "buy," with an increased target price of 33 euros (vs. 26 euros previously).
The broker justifies this upgrade by increased revenue forecasts through to 2020, which in particular are supported by the group winning contracts recently. It believes that TechnipFMC has increased its overall market share in offshore and subsea contracts over the last three years.
Jefferies is also highlighting a merger and an integrated EPC (engineering, procurement and construction) approach that is deemed as profitable, well as a "world-class" operational implementation of the Yamal LNG project.
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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.
5% today, boosted by Jefferies, which has upgraded its rating on the Franco-American oil services group from "hold" to "buy," with an increased target price of 33 euros (vs. 26 euros previously).
The broker justifies this upgrade by increased revenue forecasts through to 2020, which in particular are supported by the group winning contracts recently. It believes that TechnipFMC has increased its overall market share in offshore and subsea contracts over the last three years.
Jefferies is also highlighting a merger and an integrated EPC (engineering, procurement and construction) approach that is deemed as profitable, well as a "world-class" operational implementation of the Yamal LNG project.
Copyright (c) 2018 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.