TechnipFMC named Top Pick for first half of 2023 at BTIG

BTIG analyst Gregory Lewis names TechnipFMC (FTI) as his BTIG Top Pick for first half of 2023, replacing Chart Industries (GTLS) on that list. TechnipFMC is a "leading subsea and equipment and services provider", securing about 25% of subsea tieback contracts over the last five years, which is more than any other company, the analyst tells investors in a research note. Lewis is also positive on Technip position as the only company among its peers that offers an integrated subsea product offering for both subsea production systems, or SPS, and subsea umbilicals, risers, flowlines, or SURF. The analyst has a Buy rating and a $15 price target on the stock.