Wells Fargo Positive on FMC Technologies (FTI) Contract Win; Deal Positive for CAM, DRQ and OII Too

July 5, 2012 10:54 AM EDT
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Price: $34.92 -1.22%

Rating Summary:
    18 Buy, 21 Hold, 2 Sell

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    Up: 13 | Down: 22 | New: 54
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Wells Fargo maintains a 'Market Perform' on FMC Technologies (NYSE: FTI).

Analyst, Tom Curran, is positive on FTI's $200 million contract win from Statoil (NYSE: STO) (potential extensions are worth $667M in revs). However, Curran sees this deal as a positive for the whole sector of subsea hardware providers, including Cameron (NYSE: CAM), Dril-Quip (NYSE: DRQ) and Oceaneering International, Inc. (NYSE: OII).

(NOTE - Curran maintains an 'Outperform' rating on CAM, DRQ and OII, favoring these three over FTI)

For an analyst ratings summary and ratings history on FMC Technologies click here. For more ratings news on FMC Technologies click here.

Shares of FMC Technologies closed at $41.67 yesterday.

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