Citi downgrades Technip Energies on cautious LNG award outlook

Technip Energies NV

11/03/2025 06:56

** Citi Group cuts Technip Energies TE.PA to "neutral" from "buy" as it is cautious on LNG award outlook in 2025 and the stock's recent equity outperformance

** "Considering the significant level of LNG volumes already under construction, we are cautious on the forward awards outlook for FY25," it says

** Citi sees "risks to larger LNG projects in TE's pipeline

getting off the ground" during the year

** However, the broker expects the group to win an award for Mozambique’s Coral Norte LNG in 1H25

**  Citi also raises its PT by 5% to 31.5 euros vs 30 euros currently, citing the group's increase of its FY24 net cash position

** Out of 15 analysts that cover Technip Energies, ten rate the stock "strong buy" or "buy", ​three rate "hold" and two​ rate the stock "strong sell" or "sell"

 (Reporting by Anna Peverieri)

 ((Anna.peverieri@thomsonreuters.com))