Piper Sandler raised the firm’s price target on TechnipFMC to $29 from $24 and keeps an Overweight rating on the shares. The firm is raising its 2025 Subsea margin expectations, and expects these will likely be formally updated on the Q4 release/call. The firm also believes a higher multiple is warranted, and that TechnipFMC remains one of the best multi-year growth stories in OFS.
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