TechnipFMC price target raised to $24 from $20 at Barclays

Barclays analyst J. David Anderson raised the firm’s price target on TechnipFMC to $24 from $20 and keeps an Overweight rating on the shares. The company posted arguably its best quarter since 2014, prompting investors to take profits with shares up almost 50% since May 31, the analyst tells investors in a research note. However, the firm expects TechnipFMC’s “rerating story to continue,” supported by $4B in subsea orders this quarter and increasing offshore visibility beyond 2025.