(News Bulletin 247) – The Technip Energies share posted the strongest rise in the SBF 120 index on Monday, Morgan Stanley judging that the share’s revaluation potential had not been exhausted.
At 1:45 p.m., the value climbed 4.1%, while the SBF 120 advanced 1.2%, bringing its gains since the start of the year to more than 45%.
Morgan Stanley resumed coverage on Monday with an ‘overweight’ recommendation and a new price target set at 26.2 euros, showing an upside potential of 25%.
In a sector note, the broker believes that the strategy of the French group, which consists of focusing on contracts with higher margins and the easiest to monetize, is starting to bear fruit.
If the title is now trading in line with those of its peers, to be compared with a discount of 10% at the end of 2022, the broker points out that it still shows potential given the attractive positioning of the group on the themes sought after by the transition. energy, from carbon capture to hydrogen production.
Morgan Stanley thus made Technip Energies its ‘preferred value’ (top pick) ahead of the Italian Saipem and the Norwegian Subsea 7 within the energy services sector.
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