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What Analysts Recommend for TechnipFMC after Q2 Earnings

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Jul. 30 2018, Updated 7:32 a.m. ET

Wall Street’s forecasts for TechnipFMC

In this article, we’ll look at Wall Street’s forecasts for TechnipFMC (FTI) stock following its Q2 2018 earnings release.

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Analysts’ rating for TechnipFMC

As of July 25, the day TechnipFMC released its Q2 2018 earnings, approximately 67% of Wall Street analysts tracking TechnipFMC rated it a “buy” or some equivalent. Approximately 27% rated the company a “hold,” and 6% of sell-side analysts recommended a “sell.” In comparison, approximately 83% of sell-side analysts recommended a “buy” for Basic Energy Services (BAS) as of July 25, while 17% rated it a “hold.”

Analysts’ rating changes for FTI

From April 25 to July 25, the percentage of analysts recommending a “buy” or some equivalent for FTI has increased from 63% to 67%. Analysts’ “sell” recommendations decreased during the same period. As of July 25, approximately 50% of sell-side analysts recommended a “buy” for FTI.

Analysts’ target prices for FTI and its peers

Wall Street analysts’ mean target price for TechnipFMC as of July 25 was $35.9. FTI is currently trading at ~$29.9, implying ~20% upside at its current price. Analysts’ average target price for FTI was $36.4 a month ago.

The mean target price among sell-side analysts for Dril-Quip (DRQ) was $44.5 as of July 25. DRQ is currently trading at $56, implying nearly 21% potential downside at its current price. Sell-side analysts’ mean target price for Covia Holdings (CVIA) was $29.3 as of July 25. CVIA is currently trading at ~$16.1, implying 82% 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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