TechnipFMC : A key player to take positions in Subsea momentum
>Outperformance rating and TP of $33 reiterated - Following the Q3 publication and the conference call, we reiterate our Outperformance rating as well as our TP of $33 based on an SOTP valuation. Despite the robust YTD performance of almost 30%, we believe the share harbours further upside (after restoring pre-Covid 12m P/E multiples) and since the size of the potential market and the extent of pricing power have hit incomparable levels). The adjustment to our 2024/26...TechnipFMC is global leader in oil and gas projects, technologies, systems, and services. Co. offers subsea, surface, onshore, and offshore solutions for oil and gas projects. Co. serves customers worldwide. With Co.'s technologies and production systems, integrated expertise, and comprehensive solutions, Co. is transforming Co.'s clients' project economics. Co. is uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, Co.'s offering unlocks new possibilities for Co.'s clients in developing their oil and gas resources.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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