CatalystEU/UK

TechnipFMC initiated with Buy rating at UBS on subsea growth

UBS Buy initiation cites subsea growth catalyst for TechnipFMC.

Context

What happened: UBS initiated coverage of TechnipFMC (FTI) with a Buy rating and an $89 price target. The stock rose 1.1% in Tuesday's trading. Key numbers: Buy rating, $89 price target, 1.1% share price rise. Why it matters: UBS said its positive outlook for the integrated subsea production systems and services provider is driven by a multiyear trend.

What changed

UBS initiated coverage of TechnipFMC (FTI) with a Buy rating and an $89 price target. The stock rose 1.1% in Tuesday's trading.

Why it matters

UBS said its positive outlook for the integrated subsea production systems and services provider is driven by a multiyear trend.

Sources

seekingalpha