tiprankstipranks
TechnipFMC price target raised to $39 from $37 at Susquehanna
The Fly

TechnipFMC price target raised to $39 from $37 at Susquehanna

Susquehanna analyst Charles Minervino raised the firm’s price target on TechnipFMC (FTI) to $39 from $37 and keeps a Positive rating on the shares. The firm previewed upcoming Q4 results for the oilfield services sector where they believe baseline expectations for E&P spending in North America have moved to flat-to-down mid-single digits, while the international market expectations are for modest-to-mid-single-digit growth. At this stage, they prefer internationally levered oilfield services companies while acknowledging the US market could move more quickly if commodity prices drive upside in spending levels. However, the North America market faces the headwind of greater technological efficiencies, requiring less rigs than ever before to produce each barrel of oil.

Stay Ahead of the Market:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App

Latest News Feed

More Articles