UPDATE: Canaccord Genuity Upgrades Forest Oil (FST) to Buy; Compelling After Recent Dip

June 6, 2012 7:28 AM EDT
Get Alerts FST Hot Sheet
Price: $11.61 -0.68%

Rating Summary:
    5 Buy, 13 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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(Updated - June 6, 2012 8:40 AM EDT)

Canaccord Genuity upgraded Forest Oil (NYSE: FST) from Hold to Buy. PT $12.

Analyst, John Gerdes, said, "FST has declined over 40% since late February, underperforming the sector by ~15%. The stock now presents upside similar to the sector in our view and offers a compelling 50%+ potential return to our target price. More importantly, we believe Forest is close to finalizing an Eagle Ford joint venture. We expect this deal to lead to a meaningful uplift in share price and greater operational emphasis on the Eagle Ford, which we see as the most repeatable and productive oil asset in Forest’s portfolio."

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 $7.90 yesterday.

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