Analyst Marc Bianchi of TD Cowen maintained a Buy rating on TechnipFMC (FTI – Research Report), with a price target of $38.00.
Marc Bianchi has given his Buy rating due to a combination of factors including TechnipFMC’s strong performance relative to the OIH index, with the company outperforming by approximately 400 basis points. This is attributed to a solid quarterly report and an upgrade in the 2025 Subsea guidance, indicating robust future orders and no concerns over vessel availability despite industry consolidation.
The company’s Subsea revenue and margin outlooks have been slightly increased, and the backlog coverage for 2025 revenue is higher compared to previous years, suggesting a conservative approach. Additionally, the bullish outlook for Subsea orders beyond 2025, coupled with management’s confidence in continued growth, supports the positive rating. The potential upside in Subsea order and margin assumptions for 2026 and beyond further bolsters the optimistic view, leading to an increase in the price target from $37 to $38.