(CercleFinance.com) – Berenberg begins coverage of Technip Energies with a ‘buy’ recommendation and a price target of 26 euros, representing an estimated upside potential of 35% for the title of the French engineering group for the sector of energy.
‘The stock has fallen about 8% since the start of the year due to the slight decline in commodity prices and concerns about future activity in the Middle East and the United States,’ admits the broker.
‘However, strong order momentum and execution track record means we believe Technip Energies remains well positioned, with the pullback providing a good entry point,’ he said.
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