FMC Technologies downgraded to Sector Perform from Outperform at RBC Capital RBC Capital downgraded FMC Technologies citing uncertainty around the company's major subsea awards. The firm keeps a $47 price target for shares.
FMC Technologies awarded $180M contract in Australia FMC Technologies signed an agreement with Woodside for the design, manufacture and supply of subsea production systems for the Greater Western Flank Phase 2 Project as part of the North West Shelf Project in Western Australia. The contract is valued at approximately $180M for FMC Technologies and includes: subsea production trees, wellheads, manifolds, subsea and topside controls, and flowline connection systems. Deliveries are expected to begin in 2016 and continue through 2018.