(News Bulletin 247) – JPMorgan downgraded its recommendation on Technip Energies on Friday, bringing it from ‘outperformance’ to ‘neutral’ after the solid stock market performance recently recorded by the value.
In a note devoted to European oil services groups, the intermediary underlines that the title has recently signed one of the best performances in the sector.
A revaluation that the analyst explains by the intrinsic quality of the company, but also by its successful transition to a more sustainable offer, which, according to him, has enabled it to attract the good graces of investors who are not necessarily specialized in the sector. Energy.
Under these conditions, JPMorgan believes that the company must now materialize the hopes of an acceleration of growth that the market places in it before being able to claim a new episode of stock market revaluation.
Its price target has therefore been updated to 20.4 euros, against 18.2 euros previously.
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