FMC Tech raises to Buy at SocGen, says investor fears overblown

|About: FMC Technologies, Inc. (FTI)|By:, SA News Editor

FMC Technologies (FTI +0.8%) is upgraded to Buy from Hold with a $65 price target at SocGen, which believes investor fears that subsea equipment manufacturers could experience margin headwinds from a perceived drop in large project awards are overblown.

The robust pace of FTI bookings and continued improvement in margin performance does not support an argument for increased project slippage, the firm says, creating a better entry point to capitalize on growth in the subsea equipment market.