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UPDATE: Jefferies Upgrades FMC Technologies to Hold Following On Recent Underperformance

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Earnings Scheduled For October 19, 2016
Benzinga's Top Downgrades

Jefferies raised its rating on FMC Technologies (NYSE: FTI) from Underperform to Hold but lowered its price target from $42 to $41.

Jefferies said, "Underperformance has left shares fairly valued, in our view, and lower U.S. onshore estimates remove a negative catalyst. Most importantly, we remain constructive regarding subsea growth and accept 13% EBIT margin guidance for 2013 and higher margins beyond. However, we note a more challenged position in subsea boosting could delay processing as a catalyst."

FMC Technologies closed at $39.70 on Wednesday.

Latest Ratings for FTI

DateFirmActionFromTo
Nov 2016Griffin SecuritiesUpgradesNeutralBuy
Oct 2016UBSUpgradesNeutralBuy
Sep 2016Seaport GlobalDowngradesBuyNeutral

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Posted-In: JefferiesAnalyst Color Upgrades Intraday Update Analyst Ratings

 

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