Wells Fargo Maintains an 'Outperform' on Forest Oil (FST); Fighting Through Pressure From Shorts
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Price: $5.03 -0.2%
Rating Summary:
8 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 26 | New: 12
Rating Summary:
8 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 26 | New: 12
Trade FST Now!
Wells Fargo maintains an 'Outperform' on Forest Oil (NYSE: FST) price target range $14-$16.
Analyst, David Tameron, said, "Adjusted EPS met our estimate, with slightly lower crude production and lower-than-expected gas realizations offset by higher crude/NGL pricing. Ops update positive, in our view." (FY12 EPS estmate raised from $0.37 to $0.38 and FY13 from $0.33 to $0.42)
"Since the company announced its "go-it-alone' plan on 7/9, we believe a major short-thesis was removed and flipped the longer term risk/reward profile for FST. We have no doubt there is a long road ahead, but we believe the company will be able to divest non-core assets while reducing leverage and re-focusing operations." (However, shorts continue to pressure shares until more clarity on CEO and asset sales)
For an analyst ratings summary and ratings history on Forest Oil click here. For more ratings news on Forest Oil click here.
Shares of Forest Oil closed at $7.06 yesterday, with a 52 week range of $5.68-$26.95.
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Analyst, David Tameron, said, "Adjusted EPS met our estimate, with slightly lower crude production and lower-than-expected gas realizations offset by higher crude/NGL pricing. Ops update positive, in our view." (FY12 EPS estmate raised from $0.37 to $0.38 and FY13 from $0.33 to $0.42)
"Since the company announced its "go-it-alone' plan on 7/9, we believe a major short-thesis was removed and flipped the longer term risk/reward profile for FST. We have no doubt there is a long road ahead, but we believe the company will be able to divest non-core assets while reducing leverage and re-focusing operations." (However, shorts continue to pressure shares until more clarity on CEO and asset sales)
For an analyst ratings summary and ratings history on Forest Oil click here. For more ratings news on Forest Oil click here.
Shares of Forest Oil closed at $7.06 yesterday, with a 52 week range of $5.68-$26.95.
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
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