Technip Energies: JPMorgan raises target price

(CercleFinance.com) - On Monday JPMorgan raised its target price for Technip Energies to 16.
2 euros (from 14.7 euros), while renewing its "overweight" rating on the stock.

In its comments on the European oil and gas sector, the US bank said it was concerned about the project engineering specialist's exposure to Russia, although against this also praised its positioning in the LNG market.

"Recent order intake supports earnings growth in its core business which underpins the shares, in our view," the broker said.

"Beyond this, we see scope to grow its offering in Renewables and the Energy transition as it pivots with its customers to a low-carbon future," JPMorgan adds.



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