Wall Street’s forecasts for FMC Technologies
In this article, we’ll look at Wall Street analysts’ forecasts for FMC Technologies’ (FTI) shares following the announcement of its merger with Technip.
Consensus rating for FMC Technologies
Approximately 41% of analysts tracking FMC Technologies rate it a “buy” or some equivalent. Approximately 56% rate the company a “hold” or an equivalent. Only 3% of the analysts tracking FTI recommended a “sell.” FTI makes up 0.04% of the SPDR S&P 500 ETF (SPY).
In comparison, approximately 47% of analysts tracking Core Laboratories (CLB) rate it a “buy” or some equivalent, and approximately 41% have rated it a “hold.” The rest of the analysts have rated it a “sell.”
Analyst recommendations for FTI
When it comes to individual recommendations, RBC Capital markets gave FMC Technologies a target price of $32, following the merger agreement with Technip. FMC Technologies currently trades near $27.3, implying a ~17% return for the next 12 months. Credit Suisse (CS), a global investment bank, gave FTI a one-year target price of $26, one of its lowest target prices. This target implies a -5% return over the next one year.
Among the large investment banks, Morgan Stanley (MS) gave FMC Technologies a target price of $43, one of its highest target prices. This implies a 57.5% return at its current price over the next 12 months.
Analyst target prices for FTI
Following the proposed merger with Technip, the highest target price for FTI is $43, and the lowest is $21. The median target price from sell-side analysts for FTI is $32.30. FTI is currently trading at ~$27.3, implying a ~19% upside at its median price.
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