Zacks Investment Research upgraded shares of Technip SA (NASDAQ:TKPPY) from a hold rating to a buy rating in a report published on Wednesday morning. The firm currently has $16.00 target price on the stock.
According to Zacks, “Technip is a world leader in the fields of project management, engineering and construction for the oil & gas industry, offering a comprehensive portfolio of innovative solutions and technologies. The Company designs and builds high-technology industrial installations, such as subsea equipment and platforms, and onshore mega-complexes for the oil, gas and petrochemical sectors. It operates in three segments: Subsea, Offshore and Onshore. The Company’s main subsidiaries are Technip France, Technip Italy SpA, Technip UK Limited, Technip Geoproduction Malaysia SDN BHD, Flexibras Tubos Flexiveis Limitada and Technip USA Inc. The Company’s locations outside France include Italy, Malaysia, Germany, the United Kingdom, Norway, Finland, the United States, the Netherlands, Brazil, the United Arab Emirates, Nigeria, China, India and Australia. “
A number of other brokerages have also weighed in on TKPPY. Credit Suisse Group AG assumed coverage on Technip SA in a report on Monday, September 19th. They issued an outperform rating on the stock. Barclays PLC lowered Technip SA from an equal weight rating to an underweight rating in a report on Friday, June 17th.
Technip SA (NASDAQ:TKPPY) opened at 15.26 on Wednesday. Technip SA has a 12-month low of $9.69 and a 12-month high of $15.50. The company has a market capitalization of $1.86 billion and a PE ratio of 3.20. The stock has a 50 day moving average of $14.65 and a 200-day moving average of $13.93.
Technip SA Company Profile
Technip SA (Technip) is engaged in project management, engineering and construction for the energy sector. The Company operates through two segments: Subsea, Onshore/Offshore and Corporate. The Subsea segment includes the design, manufacture, procurement and installation of subsea equipment. The Onshore/Offshore segment includes the engineering and construction business for petrochemical and refining plants, the facilities for developing onshore oil and gas fields (including gas treatment units, liquefied natural gas (LNG) units and onshore pipelines), as well as the design and construction of fixed or floating facilities and surface installations.
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