TechnipFMC price target raised to $70 from $47 at RBC Capital

RBC Capital raised the firm’s price target on TechnipFMC (FTI) to $70 from $47 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company has also further increased its Subsea EBITDA margin guidance and sees a continued strong tender pipeline amid positive investor sentiment for sustained offshore activity, the analyst tells investors in a research note.