In a report released yesterday, Mike Urban from Seaport Global reiterated a Buy rating on TechnipFMC PLC (FTI), with a price target of $34. The company’s shares opened today at $24.74.
According to TipRanks.com, Urban is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.7% and a 37.4% success rate. Urban covers the Basic Materials sector, focusing on stocks such as C&J Energy Services Inc, Basic Energy Services, and Frank’s International.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for TechnipFMC PLC with a $28.35 average price target, representing a 14.6% upside. In a report released today, BMO Capital also maintained a Buy rating on the stock with a $28 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.
