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Investing.com - RBC Capital has raised its price target on TechnipFMC (NYSE:FTI) to $47.00 from $40.00 while maintaining an Outperform rating on the stock. The company, currently trading at $40.79 and near its 52-week high of $41.30, has shown remarkable strength with a perfect InvestingPro Piotroski Score of 9.
The price target increase follows TechnipFMC’s strong third-quarter orders and guidance for fiscal year 2026 Subsea margins, which exceeded consensus expectations.
RBC Capital analyst Victoria McCulloch cited accelerated margin growth as a key factor in the revised outlook for the energy technology company.
The company has approved an additional $2 billion share buyback program, which RBC expects to be implemented over the next 12-18 months.
The buyback program, combined with higher projected margins, contributed to RBC’s decision to boost its price target while maintaining its Outperform recommendation on TechnipFMC stock.
In other recent news, TechnipFMC announced a substantial subsea contract with ExxonMobil Guyana Limited for the Hammerhead development in Guyana’s Stabroek Block, valued between $250 million and $500 million. This contract covers project management, engineering, and manufacturing of subsea production systems. Additionally, TechnipFMC’s Board of Directors authorized a $2 billion share repurchase and declared a quarterly cash dividend of $0.05 per share, payable on December 3, 2025.
Piper Sandler raised its price target for TechnipFMC to $49, citing the company’s 2026 Subsea margin guidance of 20.5-22%, which exceeds the current consensus. Evercore ISI also increased its price target to $48, acknowledging the company’s strong subsea outlook and growing backlog. The firm highlighted TechnipFMC’s book-to-bill ratio, which has been at or above 1.0x in 15 of the past 16 quarters. Piper Sandler previously raised its price target to $48, emphasizing the company’s efforts to reduce offshore development cycle times.
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