Technip Energies: Berenberg raises its price target

(CercleFinance.com) - Berenberg announced on Friday that it had raised its price target for Technip Energies from €27.
5 to €33, while renewing its buy recommendation on the stock.

After a "solid" 2024 financial year, which saw record operating profit (Ebit), the engineering group's visibility continues to improve, the broker points out in a note.

With 10 billion euros in orders booked last year, its order book now stands at almost 20 billion euros, it notes.

Anticipating a rise in cash flow generation between now and 2028, the broker says it expects a dividend increase and possible accretive acquisitions.

Berenberg therefore says it remains positive on the dossier, whose business model it considers low-risk, with a view to winning new contracts and increasing the remuneration offered to shareholders.

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