Canaccord Genuity Reiterates a 'Buy' on Forbes Energy Services (FES) on February Ops Data Revisions
Tweet Send to a FriendGet Alerts FES Hot Sheet
Price: $3.60 --0%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 9 | New: 10
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 9 | New: 10
Trade FES Now!
Canaccord Genuity reiterates a 'Buy' on Forbes Energy Services (NASDAQ: FES) price target of $10.00.
Analyst, Scott Burk, said, "February operating data was slightly lower than our expectations, and reduced gas drilling activity should have a near-term negative effect. We make slight EPS adjustments and reiterate our rating given what we view as a cheap valuation and robust growth profile."
"Forbes hasn’t seen any pricing pressure in the Eagle Ford for either of its product lines. Conversely, other companies’ product lines (primarily frac) are seeing some softness as equipment moves from the Haynesville to the Eagle Ford."
For an analyst ratings summary and ratings history on Forbes Energy Services click here. For more ratings news on Forbes Energy Services click here.
Shares of Forbes Energy Services closed at $6.12 yesterday, with a 52 week range of $4.23-$12.85.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Scott Burk, said, "February operating data was slightly lower than our expectations, and reduced gas drilling activity should have a near-term negative effect. We make slight EPS adjustments and reiterate our rating given what we view as a cheap valuation and robust growth profile."
"Forbes hasn’t seen any pricing pressure in the Eagle Ford for either of its product lines. Conversely, other companies’ product lines (primarily frac) are seeing some softness as equipment moves from the Haynesville to the Eagle Ford."
For an analyst ratings summary and ratings history on Forbes Energy Services click here. For more ratings news on Forbes Energy Services click here.
Shares of Forbes Energy Services closed at $6.12 yesterday, with a 52 week range of $4.23-$12.85.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- KeyBank Upgrades MDC Holdings (MDC); Cuts PulteGroup (PHM) & Ryland Group (RYL)
- The ExOne Company (XONE) Metal Opportunity to Keep Stock Going - FBR
- Compuware (CPWR) Estimates Trimmed, PT Raised at Jefferies
Create E-mail Alert Related Categories
Analyst Comments
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
