(CercleFinance.com) – Oddo maintains its ‘outperformance’ rating on TechnipFMC stock with a price target reduced from $13.2 to $10.
The analyst puts forward a turnover of $1.52 billion in the 4th quarter, down 4.8% compared to the 4th quarter of 2020 and below consensus expectations of $1.59 billion. Adjusted EBITDA is $130.3M (consensus $142M). The group posted a net loss of $127.2 million, thus showing a restated EPS of -0.12$ below consensus expectations of (-0.01$).
‘Following the delisting of TechnipFMC from the Paris marketplace, we are continuing to monitor the stock on the American market’, indicates Oddo.
The broker also reports that, like other major American players in the sector, TechnipFMC has stressed that it is also counting on ‘a new super cycle which will last at least until 2025’.
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