TechnipFMC PLC (FTI) Gets a Buy Rating from Berenberg Bank

In a report released today, Henry Tarr from Berenberg Bank maintained a Buy rating on TechnipFMC PLC (FTIResearch Report), with a price target of $29. The company’s shares closed last Monday at $24.01.

According to TipRanks.com, Tarr is a 2-star analyst with an average return of -0.9% and a 37.5% success rate. Tarr covers the Basic Materials sector, focusing on stocks such as Exxon Mobil, Total SA, and Repsol.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for TechnipFMC PLC with a $31.25 average price target.

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Based on TechnipFMC PLC’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $97 million. In comparison, last year the company had a net profit of $106 million.

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TechnipFMC Plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea, Onshore & Offshore, and Surface Technologies.