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Jefferies Raises Price Target on FMC Technologies (FTI) After Adjusting Estimates

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FMC Technologies (FTI) Enters Settlement with U.S. SEC Over Allegations of Overstated Profits; Will Pay Penalty

October 20, 2016 2:20 PM EDT

The Securities and Exchange Commission announced that a Houston-based technology solutions company has agreed to pay a $2.5 million penalty to settle charges that it overstated profits in one of its business segments. Two then-executives at the company agreed to settle charges that they caused the violations to meet internal targets.

The SECs order finds that after being pressured to improve the financial performance of the energy infrastructure segment at FMC Technologies, the segments controller Jeffrey Favret and a business unit controller Steven Croft artificially reduced the value of a liability the company recorded for employee paid time... More

UBS Upgrades FMC Technologies (FTI) to Buy

October 20, 2016 6:50 AM EDT

UBS upgraded FMC Technologies (NYSE: FTI) from Neutral to Buy with a price target of $38.00.

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 $31.49 yesterday.

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