TechnipFMC PLC (FTI) Gets a Buy Rating from Cowen & Co.

By Ryan Adsit

Cowen & Co. analyst Marc Bianchi reiterated a Buy rating on TechnipFMC PLC (FTIResearch Report) today and set a price target of $28. The company’s shares closed yesterday at $25.26.

According to TipRanks.com, Bianchi is ranked 0 out of 5 stars with an average return of -16.3% and a 25.2% success rate. Bianchi covers the Basic Materials sector, focusing on stocks such as US Silica Holdings, National-Oilwell, and Superior Energy.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for TechnipFMC PLC with a $29.51 average price target.

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Based on TechnipFMC PLC’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $20.9 million. In comparison, last year the company had a net profit of $106 million.

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TechnipFMC Plc engages in the provision of solutions for the production and transformation of oil and gas. It operates through the following segments: Subsea, Onshore and Offshore, and Surface Technologies.