FMC Technologies price target raised to $53 from $50 at Susquehanna Susquehanna raised its price target on FMC Technologies following Q4 results. The firm maintains its Neutral rating but acknowledges the strong quarter of subsea orders and bullish outlook. Susquehanna believes the broader capital equipment landscape is well positioned for strong orders and earnings growth.
FMC Technologies awarded $393M subsea systems contract FMC Technologies announced that it has received an order from Eni Angola to supply subsea production systems for its deepwater Block 15/06 East Hub development. The order has an estimated value of $393M in revenue. Eni is the operator of Block 15/06, while Sonangol EP is the concessionaire. The other partners of the joint venture are Sonangol Pesquisa e Produção, SSI Fifteen Limited and Falcon Oil Holding Angola SA.