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Wall Street’s Forecasts for Forum Energy Technologies

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Wall Street’s forecasts for Forum Energy Technologies

In this article, we’ll look at Wall Street analysts’ forecasts for Forum Energy Technologies (FET) shares following its 1Q16 earnings release.

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Consensus rating for Forum Energy Technologies

Approximately 38% of analysts tracking Forum Energy Technologies rate it a “buy” or some equivalent. About 57% rate the company a “hold” or an equivalent. Only 5% of the analysts tracking FET recommended a “sell.” FET comprises 0.06% of the iShares Russell 2000 ETF (IWM).

In comparison, approximately 29% of analysts tracking C&J Energy Services (CJES) rate it a “buy” or some equivalent, and approximately 62% have rated it as “hold” while 9% rated it as “sell.”

Analysts’ recommendations for FET

When it comes to individual recommendations, Robert Baird gave Forum Energy Technologies a target price of $10, one of its lowest target prices, following the 1Q16 earnings release. Forum Energy Technologies currently trades near $16.70, implying an approximate return of -40% for the next 12 months. Evercore ISI gave FET a one-year target price of $19, one of its highest target prices. This implies a 13.5% return over the next year.

Among the large investment banks, Barclays (BCS) gave Forum Energy Technologies a target price of $15. This implies an approximate return of -10% at its current price over the next 12 months.

Analysts’ target prices for FET

Following its fiscal 1Q16 financial results, the highest target price for FET is $19, and the lowest is $10. The median target price, surveyed among the sell-side analysts, for FET is $14.20. FET is currently trading at ~$16.70, implying a ~15% downside at its median price.

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