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

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FMC President Buys $1M In Stock Day After Street Targets Cut
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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.

Latest Ratings for FTI

DateFirmActionFromTo
Jul 2015JefferiesUpgradesUnderperformHold
Jul 2015FBR CapitalUpgradesUnderperformMarket Perform
Jul 2015BairdMaintainsNeutral

View More Analyst Ratings for FTI
View the Latest Analyst Ratings

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

 

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