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Fly News Breaks for December 6, 2019
FTI
Dec 6, 2019 | 08:16 EDT
As previously reported, Jefferies analyst Mark Wilson downgraded TechnipFMC to Hold from Buy with a price target of $21, down from $33, after he lowered his estimates by a double-digit percentage due to his view that a "more competitively priced backlog" in Subsea offsets the positive of improved backlog awards. While the U.S. onshore rig count continues to fall, the segment is also seeing "reduced activity and more competitive pricing in North America," Wilson tells investors.
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