TechnipFMC: Oddo BHF still not convinced.
(CercleFinance.com) - Oddo BHF maintains its reduce rating on the TechnipFMC stock, the day after the oil services group's investor day held in Texas.
Analysts mention that 2018 will be a financial year that remains unattractive: their 20 euro target price is below the share's current price.
In Houston yesterday, TechnipFMC clarified its outlook, expecting revised cost synergies to increase to 450 million dollars, against 400 million dollars previously, including an additional 50 million dollars by the end of 2019. In addition, the group aims for tax optimisation with a 300 basis point reduction in tax rates by 2019, Oddo BHF points out, which also highlights a 500 million dollar share buyback program.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Analysts mention that 2018 will be a financial year that remains unattractive: their 20 euro target price is below the share's current price.
In Houston yesterday, TechnipFMC clarified its outlook, expecting revised cost synergies to increase to 450 million dollars, against 400 million dollars previously, including an additional 50 million dollars by the end of 2019. In addition, the group aims for tax optimisation with a 300 basis point reduction in tax rates by 2019, Oddo BHF points out, which also highlights a 500 million dollar share buyback program.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.