Technip Energies stock among the best performers on the SBF 120, driven by crude oil prices
Technip Energies is resisting a slightly declining SBF 120 this Thursday, posting modest gains as military tensions in the Gulf push crude oil above 95 dollars per barrel. The stock is regaining momentum after giving ground the previous day, in a geopolitical context still dominated by the Iran-United States conflict.
A rebound in line with the Brent surge, in a sectoral market under high tension
Technip Energies is gaining 1.34% to €30.26 in trading, bucking the trend of an SBF 120 declining by 0.15%. The movement comes in a context of sharp Brent recovery, which stands at $95.40 per barrel, up 5.43% on the session. This crude oil surge is directly fueled by the resumption of hostilities between Iran and several American allies in the Gulf: Tehran fired missiles and drones at its neighbors in retaliation for American strikes, reviving the risk of incident in the Strait of Hormuz, a critical transit route for global oil exports.
For an oilfield services group like Technip Energies, exposed to major energy infrastructure, sustainably high oil prices mechanically support the dynamics of its clients and the visibility of their investments. In terms of the day's trading, the stock ranks among the strongest gainers on the SBF 120, while luxury and consumer goods stocks are facing the heaviest pressure.
CIC Market Solutions maintains its buy recommendation, with a target of €39 implying 29% upside potential
The analysts' consensus on the stock remains constructive: CIC Market Solutions reiterated its buy opinion on Technip Energies on Wednesday, September 2, with a price target maintained at €39. Relative to the current price of €30.26, this target represents an upside potential of nearly 29%. The stock is trading in contact with the 20-day moving average at €30.19, which currently represents a threshold between neutral momentum and a more pronounced recovery. However, the stock remains below its 50-day moving average at €31.87 (5% gap) and its 200-day moving average at €34.07 (gap of more than 11%), two averages that mark medium-term resistance.
The RSI at 44 remains neutral, with no signal of exhaustion in either direction. Over one month, the stock shows a gain of 1.2%, but maintains a decline of nearly 14% over three months, a legacy of a half-year publication poorly received by the market in July. The next opportunity to engage with the financial community is set for September 8, with the Kepler Cheuvreux Autumn Conference.
