Bernstein analyst Nicholas Green yesterday downgraded TechnipFMC (FTI) to Market Perform from Outperform with a price target of $32, down from $33. The firm says the industry as a whole has begun reassessing its own prospects in April. This reassessment could last 6-9 months and potentially translate into reduced capex for short-term barrels, a possible normalization in subsea prospects by 2028, a possible re-acceleration of liquified natural projects post the second half of 2025 and a possible re-acceleration of new energy projects by 2026, the analyst tells investors in a research note. The firm’s estimates for TechnipFMC in 2027 and 2028 are below consensus.
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