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TechnipFMC: UBS still a buyer

( - This morning UBS confirmed its buy rating oil services group TechnipFMC share, which is still its best pick amongst offshore players.

The broker has a 12-month target price of 26 euros for the share.

The broker's research note highlights strong orders at its Subsea and Engineering & Construction divisions. Although the share has recovered well since the beginning of the year (+30%), according to UBS its current valuation incorporates only cautious expectations regarding both orders and margins.

Finally, the planned split of the group's Engineering & Construction division - scheduled to occur in the first half of 2020 - should also boost the share price.

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