TechnipFMC : Caution still the byword
>Reduce rating maintained (target price € 6 vs € 6.8) - At the end of the Q3 2020 call conference (for the results please see our First Take: “A penalising phasing for Technip Energies”), we maintain our Reduce recommendation on the stock given a risk reward profile which is not always attractive despite the correction since 1 January 2020 (-68% YtD). We have revised down our sequence of earnings estimates for after 2020 to reflect a slower rise in margins in al...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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