Global Hunter Securities on Forum Energy Technologies (FET): Recapitalized Entity Will Take Advantage of the Tumultuous Market

June 20, 2012 9:50 AM EDT
Get Alerts FET Hot Sheet
Price: $23.10 +1.54%

Rating Summary:
    15 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Global Hunter Securities analyst, Brian Ulmer, really likes Forum Energy Technologies (NYSE: FET), stating the company has an exemplary management team and a seasoned board. He feels FET, which competes against larger companies, often have more recognizable names within the investment community. All in, Ulmer says the company is a 'Top Player' across most of its business line.

Ulmer also noted that FET has made almost 30 acquisitions from May 2005 to Jan. 2009. The Global Hunter analyst thinks the company will continue it's growth strategy, making target acquisitions in deals ranging between $30 and $150 million.

Ulmer did say that because the company doesn't technically have a backlog and/or earnings visibility, shares of FET may not trade in-line with its peer group. The stock trades at about a 10% discount, but, and he currently recommends investors jump in. Therefore, Ulmer initiates coverage on GET with a Buy rating.

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