TechnipFMC price target raised to $33 from $32 at BMO Capital

BMO Capital analyst Phillip Jungwirth raised the firm’s price target on TechnipFMC to $33 from $32 and keeps a Market Perform rating on the shares as part of a broader research note previewing Q3 results for Oilfield Services – OFS- and Refining names. The company’s subsea orders have been strong and it has made good progress towards achieving long-term margin targets, but the stock’s “premium valuation” is keeping BMO’s rating at neutral, the analyst tells investors in a research note.