TechnipFMC: UBS still a buyer
(CercleFinance.com) - This morning UBS confirmed its buy rating oil services group TechnipFMC share, which is still its best pick amongst offshore players.
The broker has a 12-month target price of 26 euros for the share.
The broker's research note highlights strong orders at its Subsea and Engineering & Construction divisions. Although the share has recovered well since the beginning of the year (+30%), according to UBS its current valuation incorporates only cautious expectations regarding both orders and margins.
Finally, the planned split of the group's Engineering & Construction division - scheduled to occur in the first half of 2020 - should also boost the share price.
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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.
The broker has a 12-month target price of 26 euros for the share.
The broker's research note highlights strong orders at its Subsea and Engineering & Construction divisions. Although the share has recovered well since the beginning of the year (+30%), according to UBS its current valuation incorporates only cautious expectations regarding both orders and margins.
Finally, the planned split of the group's Engineering & Construction division - scheduled to occur in the first half of 2020 - should also boost the share price.
Copyright (c) 2019 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.