TechnipFMC: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF reinstates its "outperform" rating on TechnipFMC shares, having raised its target price for them from $23 to $25, in a report that highlights contract entries in the backlog without any real competition for the engineering group.
The broker points out that Q3 2023 EBITDA (excluding currency effects) came in 12% ahead of expectations, with the group expecting it to be around $915m this year, followed by 35% growth over 2024.
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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 points out that Q3 2023 EBITDA (excluding currency effects) came in 12% ahead of expectations, with the group expecting it to be around $915m this year, followed by 35% growth over 2024.
Copyright (c) 2023 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.