TechnipFMC PLC (FTI) Received its Third Buy in a Row
After Goldman Sachs and UBS gave TechnipFMC PLC (NYSE: FTI) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Judson Bailey maintained a Buy rating on TechnipFMC PLC yesterday. The company’s shares closed yesterday at $25.28.
According to TipRanks.com, Bailey is a 2-star analyst with an average return of 0.7% and a 41.8% success rate. Bailey covers the Basic Materials sector, focusing on stocks such as Select Energy Services Inc, Ranger Energy Services Inc, and Oil States International.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for TechnipFMC PLC with a $28.24 average price target, an 11.7% upside from current levels. In a report issued on March 27, Jefferies also reiterated a Buy rating on the stock with a $24 price target.
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Based on TechnipFMC PLC’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.26 billion. In comparison, last year the company had a net profit of $95.1 million.
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TechnipFMC Plc engages in the provision of solutions for the production and transformation of oil and gas. It operates through the following segments: Subsea, Onshore and Offshore, and Surface Technologies.