RBC ups Technip to 'outperform,' cites record orders, potential ME upside

Technip Energies

10/09/2026 08:38

** RBC upgrades Technip Energies TE.PA to "outperform" from "sector perform," citing valuation, record order intake and growth potential
** The brokerage highlights the French energy infrastructure company's record €12.7 billion order intake in H1, and notes it came mostly outside the Middle East (ME)
** Having re-based expectations, RBC sees material upside as the business executes contracts alongside an eventual resumption of activities in ME
** In its view, Technip remains well positioned to support clients in the Middle East in both immediate rebuild and regional growth opportunities for pipelines and projects
** It notes the stock trades at attractive valuation multiples below peers after underperforming its European OFS peers by 10% this year due to Qatar operations, lowered 2026  guidance and Middle East uncertainty
** Out of 18 analysts that cover Technip, 11 rate the stock "strong buy" or "buy,"​ and seven rate it "hold" - LSEG data
** The stock is up 0.8% in morning trade 

(Reporting by Zakarya Meliani)
((zakarya.meliani@thomsonreuters.com))