BTIG downgraded TechnipFMC (FTI) to Neutral from Buy as part of a broader research note on Offshore Oil Services names. There has been a flight to quality trade in offshore services over the last year, though the firm still views the ongoing slow down in drilling activity as a pause in the cycle, with 7G utilization still firm and at premium pricing versus 6G floaters, the analyst tells investors in a research note. BTIG adds that 2025 was expected to be a transition year for offshore activity given ongoing macro uncertainty, the drop in the 2026 oil futures curve, and OPEC+ unwinding production cuts, but the firm expects offshore activity to continue to limp along this year and most of next.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FTI:
- TechnipFMC downgraded to Neutral from Buy at BTIG
- TechnipFMC price target raised to $41 from $35 at Citi
- TechnipFMC price target raised to $40 from $35 at Susquehanna
- Deckers downgraded, Morgan Stanley upgraded: Wall Street’s top analyst calls
- TechnipFMC downgraded to Market Perform at Bernstein (yesterday)