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Upgrade Alert for FMC Technologies (FTI)

By David Diaz

FMC Technologies (NYSE:FTI) was upgraded from Equalweight to Overweight at Capital One today. The stock closed yesterday at $28.53 on volume of 2.7 million shares, below average daily volume of 3.1 million.

FMC Technologies (NYSE:FTI) has potential upside of 32.8% based on a current price of $28.53 and analysts' consensus price target of $37.88. The stock should hit resistance at its 200-day moving average (MA) of $29.88, as well as support at its 50-day MA of $27.46.

FMC Technologies, Inc. designs, manufactures, and services systems and products used in offshore, particularly deepwater, exploration and production of crude oil and natural gas. The Company also provides advanced handling and processing systems to industrial customers. FMC Technologies' subsea products include drilling and production systems, subsea tree systems, and fluid control systems.

FMC Technologies share prices have moved between a 52-week high of $44.28 and a 52-week low of $22.30 and closed yesterday at 28% above that low price at $28.53 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.3%.

SmarTrend is monitoring the recent change of momentum in FMC Technologies. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of FMC Technologies in search of a potential trend change.

Keywords: analyst upgrades/downgrades FMC Technologies

Ticker(s): FTI