Already +6.5% on the week: Technip Energies shares advance further
The energy engineering group is progressing at midday, in a well-oriented Paris market. Two major banks have revised their opinion on the stock, as contract awards have multiplied since the beginning of the week.
UBS and Goldman Sachs turn to buy, with price targets of 39 and 35 euros
Technip Energies gains 1.72% to 30.84 €, while the SBF 120 advances 0.61%. Over the week, the share rises 6.71%, but it still loses 18.46% over one year. Analyst opinions shifted at the beginning of the week: Goldman Sachs moved from neutral to buy on October 13, with its price target raised from 32 to 35 €. UBS made the same move today, but its target falls from 41 to 39 €.
Both targets remain above the current price, by 13.5% for Goldman Sachs and 26.5% for UBS. The share has just moved back above its 20 and 50-day moving averages (29.08 € and 29.67 €), while the 200-day MA at 33.56 € remains 8.1% above the price.
A contract in Mumbai, following margin forecast reductions last summer
The group announced on October 12 that it had been selected by Hindustan Petroleum Corporation to modernize its Mumbai refinery, a project valued between 250 and 500 M€ covering two refining units. This order comes after the publication of H1 2026 results on July 30, when the company had reduced its project delivery margin forecasts. On the capital side, a 150 M€ buyback program launched in February was executed at approximately 100% in early July. In terms of levels, the share price is between its support at 28.10 € and its resistance at 31.34 €, or less than 2% from the latter.
