Technip gains nearly 6% in Paris as Oddo BHF confirms this morning its 'outperform' rating on the stock, with an unchanged target price of 27 euros.

As a reminder, the stock gave up 13.75% yesterday after the publication of a Le Monde investigation entitled 'How France's Technip Energies assisted a Russian gas megaproject despite international sanctions'.

Oddo BHF points out that Technip Energies has never concealed this contract or its desire for a controlled exit. The commitment has been respected, and the Group confirmed its exit from the ALNG2 project on July 27, 2023 when it published its half-year results", reports the analyst.

The broker believes that the main financial risk lies in a possible fine for non-compliance with the sanctions, a fine that Oddo BHF estimates could potentially amount to between 50 and 100 ME, an amount deemed "easily affordable for the Group".

However, the analyst also points to another commercial risk, rather localized to the US market, where Technip Energies could be penalized in future tenders in the region.

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