TechnipFMC (FTI – Research Report), the Energy sector company, was revisited by a Wall Street analyst yesterday. Analyst Gregory Lewis from BTIG reiterated a Buy rating on the stock and has a $33.00 price target.
Gregory Lewis has given his Buy rating due to a combination of factors that highlight TechnipFMC’s strong performance and future potential. The company reported a slight beat in adjusted EBITDA for the fourth quarter of 2024, with subsea revenue exceeding guidance expectations due to increased activity in key regions such as the US Gulf and Africa. This performance, alongside a robust subsea order book and increased revenue guidance, indicates a positive outlook for the company’s subsea segment.
In addition to its operational strengths, TechnipFMC is focused on enhancing shareholder value through share repurchases and dividends, with plans to significantly increase shareholder distributions in the coming year. The company’s solid balance sheet, characterized by reduced debt and a strong net cash position, further supports its financial stability. These factors, combined with a favorable valuation, underpin Gregory Lewis’s confidence in recommending a Buy rating for TechnipFMC.
Lewis covers the Energy sector, focusing on stocks such as Scorpio Tankers, DHT Holdings, and TechnipFMC. According to TipRanks, Lewis has an average return of 0.3% and a 42.28% success rate on recommended stocks.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $40.00 price target.