UPDATE: Global Hunter Securities Downgrades FMC Technologies to Neutral

According to Global Hunter Securities, FMC Technologies (NYSE: FTI) is downgraded to Neutral.

Global Hunter Securities said that it is downgrading FTI to Neutral from Buy while leaving the price target unchanged at $54. “With that in mind, we believe paying 31x 2012 and 25x 2013 estimated EPS for subsea is the valuation pinnacle and the stock will be hard pressed to outperform its peer group.”

FMC Tech closed on Friday at $54.01.

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