UPDATE - Canaccord Genuity Downgraded Forest Oil (FST) to Hold; Higher Costs/Liquids Output, Permian Basin Not A Panacea
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Price: $10.18 --0%
Rating Summary:
5 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Canaccord Genuity downgraded Forest Oil (NYSE: FST) from Buy to Hold, price target lowered from $17 to $14.00.
Analyst, John Gerdes, said, "We are reducing our rating and decreasing our target price due to higher capital intensity/operating expense and the recent equity issuance partly offset by a slightly higher liquids composition. While Granite/Missourian Wash wells continue to generate strong returns, Eagle Ford results have disappointed. Pushback to our downgrade will likely center on the potential for the Wolfcamp and Wolfbone to materialize into highly viable oil resource plays. Yet, we believe the recently debuted Permian Basin plays are not a panacea as their elevated capital intensity should offset a higher oil composition."
To see more ratings on FST, Click Here
Analyst, John Gerdes, said, "We are reducing our rating and decreasing our target price due to higher capital intensity/operating expense and the recent equity issuance partly offset by a slightly higher liquids composition. While Granite/Missourian Wash wells continue to generate strong returns, Eagle Ford results have disappointed. Pushback to our downgrade will likely center on the potential for the Wolfcamp and Wolfbone to materialize into highly viable oil resource plays. Yet, we believe the recently debuted Permian Basin plays are not a panacea as their elevated capital intensity should offset a higher oil composition."
To see more ratings on FST, Click Here
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