KeyBanc Starts Forest Oil (FST) at Hold, Sees 2012 Being a Year of Transition
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Price: $10.18 --0%
Rating Summary:
5 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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KeyBanc is initiating coverage on shares of Forest Oil (NYSE: FST) with a Hold.
The firm notes it looks to FST as a future growth story due to their Eagle Ford and Permian positions. KeyBanc is also anticipating 2012 will be a transition year for the company as it searches for potential joint venture partner sand establishes new production contributions in liquid rich zones.
An analyst at KeyBanc comments, "With this week’s recent production guidance for 2012 aiming for 5-6% organic growth and 13% liquids growth, we do not believe that valuation alone of a 10% discount to our proved-only NAV will serve as a catalyst until greater visibility around growth inventory can be achieved."
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 $14.04 yesterday.
The firm notes it looks to FST as a future growth story due to their Eagle Ford and Permian positions. KeyBanc is also anticipating 2012 will be a transition year for the company as it searches for potential joint venture partner sand establishes new production contributions in liquid rich zones.
An analyst at KeyBanc comments, "With this week’s recent production guidance for 2012 aiming for 5-6% organic growth and 13% liquids growth, we do not believe that valuation alone of a 10% discount to our proved-only NAV will serve as a catalyst until greater visibility around growth inventory can be achieved."
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 $14.04 yesterday.
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