Technip Energies: share up on analyst's comments

(CercleFinance.com) - Technip Energies shares were one of the biggest risers on the SBF 120 index in Paris on Monday, thanks to favourable comments from JPMorgan, which raised its target price for the stock.


In a report on the European oil and gas sector, the US bank said it was concerned about the engineering specialist's exposure to Russia, but praised its positioning in the LNG market.

Recent order intake is supporting earnings growth in core businesses and therefore the share price, it says.

The New York broker, which has an "overweight" rating on Technip Energies shares, has accordingly raised its target price from 14.7 euros to 16.2 euros.


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