On Friday, JPMorgan downgraded its recommendation on Technip Energies from 'Outperform' to 'Neutral', following the stock's recent strong performance.

In a note devoted to European oil and gas groups, the intermediary points out that the stock has been one of the best performers in the sector recently.

The analyst explains this rise in value not only by the company's intrinsic quality, but also by its successful transition to a more sustainable offering, which has enabled it to attract the good graces of investors not necessarily specialized in the energy sector.

Under these conditions, JPMorgan believes that the company must now materialize the market's hopes for accelerated growth before it can claim a new episode of stock market appreciation.

Its price target has consequently been updated to 20.4 euros, from 18.2 euros previously.

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