Canaccord Genuity Maintains a 'Hold' on Forest Oil (FST); Cutting PT on Lower Output/Liquids Prices
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Price: $4.28 -0.47%
Rating Summary:
8 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
8 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade FST Now!
Canaccord Genuity maintains a 'Hold' on Forest Oil (NYSE: FST) price target lowered from $14 to $12.
Analyst, John Gerdes, said, "We are lowering our target price due to weaker Q1 production and lower price realizations. We retain our rating as shares trade essentially in line with our target while the sector offers ~30% upside in our view. Weaker NGL prices have eroded the economics of the Texas Panhandle and East Texas drilling programs. Ongoing results in the Eagle Ford are solid though initial horizontal Wolfcamp tests were disappointing. Production/equity outperformance appears to hinge on the successful evolution of Delaware Basin/Texas Panhandle oil plays and acceleration of Eagle Ford activity."
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 $11.88 yesterday, with a 52 week range of $8.88-$35.88.
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Analyst, John Gerdes, said, "We are lowering our target price due to weaker Q1 production and lower price realizations. We retain our rating as shares trade essentially in line with our target while the sector offers ~30% upside in our view. Weaker NGL prices have eroded the economics of the Texas Panhandle and East Texas drilling programs. Ongoing results in the Eagle Ford are solid though initial horizontal Wolfcamp tests were disappointing. Production/equity outperformance appears to hinge on the successful evolution of Delaware Basin/Texas Panhandle oil plays and acceleration of Eagle Ford activity."
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 $11.88 yesterday, with a 52 week range of $8.88-$35.88.
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