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What Does Wall Street Forecast for FMC Technologies?

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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.

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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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