Jefferies & Company Inc. Raises Price Target For FMC Technologies, Inc. (FTI)

Analyst Stephen Gengaro at Jefferies & Company Inc. has released an update on FMC Technologies (NYSE: FTI). The company has reported its first-quarter results.

FMC Technologies reported first-quarter EPS of $0.80, which was ahead of Jefferies’ estimate of $0.67 and consensus estimate of $0.64. As deepwater rig activity rises worldwide over the next several years, Jefferies expects the company to build backlog and post strong growth in earnings.

Jefferies & Company has raised the price target for FMC Technologies, Inc. from $66 to $80. The brokerage firm has maintained its Buy rating for the company.