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Wall Street’s Forecasts for TechnipFMC ahead of Q2 Results

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Wall Street’s forecasts for TechnipFMC

Analysts’ rating for TechnipFMC

As of July 10, 66% of Wall Street analysts tracking TechnipFMC rated it a “buy” or some equivalent. Approximately 28% of the analysts tracking FTI have recommended a “hold,” while 6% rated it a “sell” or some equivalent.

By comparison, ~73% of sell-side analysts tracking Patterson-UTI Energy (PTEN) rated it a “buy” or some equivalent as of July 10, while 23% recommended a “hold,” according to data compiled by Reuters.

Analysts’ rating changes for FTI

From April 10 to July 10, 2018, the percentage of analysts recommending a “buy” or some equivalent for FTI has increased from 56% to 66%. Analysts’ “hold” and “sell” recommendations, however, have decreased during this period. As of July 10, 2017, ~53% of sell-side analysts recommended a “buy” for FTI.

Analysts’ target prices for FTI and its peers

Wall Street analysts’ mean target price for FTI as of July 10, 2018, was ~$36.0. FTI is currently trading at ~$31.9, implying ~13% upside at its current mean price. A month ago, analysts’ average target price for FTI was $36.2.

The mean target price among sell-side analysts for Helix Energy Solutions Group (HLX) was $8.8 as of July 10. HLX is currently trading at ~$8.6, implying nearly 3% returns at its current price. The mean target price, surveyed among the sell-side analysts for Key Energy Services (KEG) was ~$18.2 as of July 10. KEG is currently trading at ~$17.1, implying 7% upside at its current price.

Learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.

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