TechnipFMC, the Energy sector company, was revisited by a Wall Street analyst today. Analyst Marc Bianchi from TD Cowen maintained a Buy rating on the stock and has a $44.00 price target.
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Marc Bianchi has given his Buy rating due to a combination of factors that highlight TechnipFMC’s strong performance and future potential. The company has demonstrated robust subsea orders, surpassing expectations with a diverse set of awards, and management has expressed confidence in maintaining high order levels in the coming years. This positive outlook is further supported by promising project opportunities in regions like Guyana, Mozambique, and Namibia, which provide a rich set of near-term prospects.
Additionally, TechnipFMC’s financial performance has been impressive, with second-quarter revenue and margins exceeding guidance. The company anticipates delivering at the high end of its margin guidance, translating to a significant EBITDA figure. Despite conservative guidance, there is potential for upside, particularly with the company’s active share repurchase program. These factors, combined with a revised price target of $44, reflect a positive investment case for TechnipFMC.
In another report released on July 11, Citi also maintained a Buy rating on the stock with a $41.00 price target.