8-K filing — TechnipFMC plc (FTI)

TechnipFMC’s Subsidiary, FMC Wellhead Equipment Bags iEPCI Contract From PETRONAS Carigali For Limbayong Deepwater Project Offshore Malaysia

TechnipFMC (NYSE:FTI) announced that its subsidiary, FMC Wellhead Equipment Sdn. Bhd., has been awarded a significant(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI®) contract by PETRONAS

TechnipFMC shares are trading higher after Citigroup raised its price target on the stock from $80 to $85.

Citigroup Maintains Buy on TechnipFMC, Raises Price Target to $85

Citigroup analyst Scott Gruber maintains TechnipFMC (NYSE:FTI) with a Buy and raises the price target from $80 to $85.

Shares of oil and gas engineering and services companies are trading lower. Saudi Arabia's reported oil production decline and a drone strike on its East-West oil pipeline, along with continued vessel strikes in the ongoing Strait of Hormuz conflict, may lead to lucrative Middle East contracts being delayed or canceled.