Piper Sandler raised the firm’s price target on TechnipFMC (FTI) to $48 from $44 and keeps an Overweight rating on the shares. Revisiting its TechnipFMC investment thesis, the firm’s confidence continues to grow in the story led by its relentless pursuit to reduce offshore development cycle times, thereby improving its customers’ project returns. Higher customer returns results in TechnipFMC capturing a greater portion of the economic value it creates, Piper adds.
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