Market Overview

UPDATE: Sterne Agee Upgrades FMC Technologies to Buy on 2013 Margin Inflection

Related FTI
Oceaneering Enters Deal With FMC Tech To Provide Umbilicals - Analyst Blog
Corporate Events for the Week of Jun. 2nd, 2014
Energy Stocks Move Higher as Oil Spikes (Fox Business)

Sterne Agee upgraded FMC Technologies, Inc. (NYSE: FTI) from Neutral to Buy and announced a $56.00 price target.

Sterne Agee said, "[W]e reiterate our belief that deepwater drilling activity and demand for subsea hardware is in the midst of a sustainable, multi-year uptrend. Over the next several years, an additional 90 floating rigs are expected to join the current fleet of roughly 300 rigs, creating visible long-term growth. After underperforming its peers in 2012, we believe it is a great time for investors to be building positions in FMC shares."

FMC Technologies closed at $43.69 on Monday.

Posted-In: Sterne AgeeAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Most Popular

Related Articles (FTI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free