UPDATE: Global Hunter Securities Starts Forum Energy Technologies (FET) at Buy; Top Player Across Most Business Lines
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Price: $31.80 +1.11%
Rating Summary:
11 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
11 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade FET Now!
(Updated - June 20, 2012 8:36 AM EDT)
Global Hunter Securities initiates coverage on Forum Energy Technologies (NYSE: FET) with a Buy. PT $27.00.
Analyst, Brian Uhlmer, said. "The recently IPO'd FET is a worthy mid-cap equipment manufacturing investment, in our opinion, and backed by a veteran energy PE firm, an exemplary management team and a seasoned board. We believe the recapitalized entity will take advantage of the tumultuous market we are currently in and add meaningful earnings via rolling up smaller competitors. Its leverage to consumable products and the drilling well count, which we expect to rise in spite of a flat to down rig count, will make it an outperformer vs. the OSX, in our opinion."
For an analyst ratings summary and ratings history on Forum Energy Technologies click here. For more ratings news on Forum Energy Technologies click here.
Shares of Forum Energy Technologies closed at $20.77 yesterday, with a 52 week range of $19.26-$23.86.
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Global Hunter Securities initiates coverage on Forum Energy Technologies (NYSE: FET) with a Buy. PT $27.00.
Analyst, Brian Uhlmer, said. "The recently IPO'd FET is a worthy mid-cap equipment manufacturing investment, in our opinion, and backed by a veteran energy PE firm, an exemplary management team and a seasoned board. We believe the recapitalized entity will take advantage of the tumultuous market we are currently in and add meaningful earnings via rolling up smaller competitors. Its leverage to consumable products and the drilling well count, which we expect to rise in spite of a flat to down rig count, will make it an outperformer vs. the OSX, in our opinion."
For an analyst ratings summary and ratings history on Forum Energy Technologies click here. For more ratings news on Forum Energy Technologies click here.
Shares of Forum Energy Technologies closed at $20.77 yesterday, with a 52 week range of $19.26-$23.86.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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