UBS initiates Technip at 'neutral' on 'slower transition'

Technip Energies NV

10/02/2026 11:30

** UBS initiates coverage on French engineering and technology company Technip Energies TE.PA with a "neutral" rating, citing a "slower transition" and only modest momentum expected in 2026

** Brokerage believes the market's focus remains on liquefied natural gas projects and expects only one large award in 2026, insufficient to drive a strong share price rebound

** "We expect growth to continue to disappoint given their higher costs in a volatile market," UBS says

** A large net cash position, quality portfolio and a free cash flow yield of around 8% provide good support for the shares at current levels, broker says

** Out of 17 analysts that cover Technip Energies, 10 rate the stock "strong buy" or "buy,"​ 6 rate "hold" and 1 rates "sell" - data compiled by LSEG

(Reporting by Hugo Lhomedet)

((hugo.lhomedet@thomsonreuters.com))