TechnipFMC: Berenberg downgrades buy rating
(CercleFinance.com) - The German broker Berenberg has downgraded its Buy rating on the TechnipFMC share, now recommending investors hold it, while cutting its corresponding target price from 26 euros to 20 euros.
Admittedly, next year the oil services group should split its Onshore/Offshore business. However, in Q3, the margins of its key business, Subsea, are considered disappointing, a trend that analysts believe is set to last.
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