Technip Energies: Barclays double downgrades stock

(CercleFinance.com) - On Monday, Barclays downgraded Technip Energies shares directly from "overweight" to "underweight", while maintaining its target price for them at E26.
5.

In a report, the broker acknowledges that the group specialising in engineering and technologies for the energy industry remains well positioned for medium-term growth in the sector.

However, in a booming onshore construction market, Barclays explains that it now sees more potential in comparable companies trading at significant discounts on the stockmarket.

In particular, the analyst points out that shares such as Maire and Tecnicas Reunidas are trading respectively 40% and 60% below Technip Energies in terms of EV/Ebitda (2024).

And while Technip Energies benefits from attractive prospects and an attractive business model, the advancing cycle could, in his view, begin to spotlight other specialists in the sector.


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