FBR Capital Maintains an 'Outperform' FMC Technologies (FTI); Adjusting Estimates to Reflect Two-for-One Stock Split

FBR Capital maintains an 'Outperform' on FMC Technologies (NYSE: FTI), raises PTPT to $65 from the split-adjusted $57.

FBR analyst says, "We are adjusting our estimates for FMC Technologies to reflect the two-for-one stock split completed on March 31. The stock split should increase liquidity for FTI and, in our opinion, signals management's confidence in future share price appreciation...The stock split increases FMC Technologies' share count to approximately 240 million from 120 million. The increase lowers our 2011 and 2012 EPS estimates to $1.70 and $2.20 from $3.40 and $4.40, respectively."

"We believe continued strength in the fluid control business, combined with a sustainable backlog of more than $4 billion, offers an attractive earnings growth story over the next few years."

For more ratings news on FMC Technologies click here and for the rating history of FMC Technologies click here.

Shares of FMC Technologies closed at $48.90 yesterday.

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