Dahlman Rose Upgrades FMC Technologies (FTI) to Buy; Sees Strong Multi-Year Recovery

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Dahlman Rose upgraded FMC Technologies (NYSE: FTI) from Hold to Buy with a price target of $65.00.

"A powerful wave of orders has begun to affect subsea equipment providers that in our
opinion will last for at least the next five years and probably more," the analyst said. "We believe no one will benefit more from this wave than FMC Technologies."

Industrywide, we could see 8-9 subsea processing pilot projects awarded in both 2013
and 2014, the analyst notes.

The firm said a major upswing in earnings is expected to begin in 2014 and push earnings up to over $3 per share in 2014, possibly to $4 in 2014 and we believe significantly higher from 2015-2020.

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 $50.96 yesterday, with a 52 week range of $36.89-$53.18.

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