Why TechnipFMC's Stock Is Trading Higher Today

TechnipFMC (NYSE: FTI) shares are trading higher on Monday after HSBC upgraded the stock from Hold to Buy and announced a $9.60 price target.

TechnipFMC is the largest provider of integrated deep-water offshore oil and gas development solutions, offering the full spectrum of subsea equipment and subsea engineering and construction services. Additionally, the company provides various oil and gas onshore engineering and construction services, with a long-standing expertise in delivering liquefied natural gas projects.

TechnipFMC shares were trading up 19.88% at $6.96 on Monday. The stock has a 52-week high of $21.84 and a 52-week low of $4.49.