Jefferies Starts FMC Technologies (FTI) at Hold

Jefferies initiates coverage on FMC Technologies (NYSE: FTI) with a Hold. PT $51.00.

The firm comments, "As the leading supplier of subsea trees and manifolds, FTI is well positioned to benefit from the forecasted surge in subsea orders in 2012 and the longer-term secular growth theme for deepwater drilling and subsea completions. However, trading at 20x our 2012 EPS estimate, we believe the stock is fairly valued."

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 $48.60 yesterday.

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