Global Hunter Raises FMC Technologies PT To $49, Maintains Neutral (FTI)

Global Hunter Securities raised its FMC Technologies FTI price target from $43.50 to $49 and maintained its FMC Technologies Neutral rating in a research report published today. In the report, Global Hunter Securities states, "Investors yesterday punished FTI for three facts that were well telegraphed: (1) Energy Production margins would decline in 1H 2011; (2) anticipated 2H 2011 subsea awards have become 2012 events; and (3) subsea pricing remains competitive. We believe the aforementioned factors, along with its priced for perfection valuation, have made the stock an underperformer YTD." Shares of FMC Technologies were trading at $45.90, down 1.25% from Wednesday's market close.