Technip Energies shares were among the top performers in the SBF 120 index on the Paris Bourse on Wednesday, following a positive study by Morgan Stanley.

Shortly before 3:30 p.m., shares in the engineering group specializing in energy transactions climbed nearly 5%, the fourth-biggest gain on the index and back to near-month highs.

In a note on the energy services sector, Morgan Stanley raised its price target from €24.5 to €27, while reiterating its 'overweight' recommendation on the stock.

While it points out that industry players such as Technip Energies, Subsea 7 and Saipem enjoyed strong commercial activity in the second quarter, winning new contracts, the research firm says it does not expect any major surprises during the earnings season, with the exception of a sequential improvement in their performance.

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