Barclays Maintains an 'Equalweight' on FMC Technologies (FTI); 2012 Orders Likely to Surge

Barclays maintains an 'Equalweight' on FMC Technologies (NYSE: FTI), raises price target from $43 to $45.

Barclays analyst says, "We continue to believe FMC Technologies is well positioned for the robust growth in deepwater drilling and completions which is likely to occur over next decade. Bid activity for subsea equipment is picking up and several large orders are likely to be awarded in 2H11 and in 2012. However, the market remains competitive and pricing increases are unlikely until industry backlog rebuilds and global capacity utilization increases. At current levels, we believe the shares are fairly valued and we maintain our rating."

"We are modestly increasing our 2011 and 2012 EPS estimates to $1.75 (from $1.70) and $2.30 (from $2.20), primarily reflecting higher revenue and margin assumptions for the company's Energy Processing Systems business."

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 $44.87 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Clear Street Reiterates Buy Rating on Anterix Inc. (ATEX)
• Beike (BEKE) PT Raised to $23 at Morgan Stanley