Wall Street’s forecasts for FET
In this article, we’ll take a look at Wall Street analysts’ recent forecasts for Forum Energy Technologies (FET).
Consensus rating for Forum Energy Technologies
Approximately 33% of analysts tracking Forum Energy Technologies have rated it as a “buy” or some equivalent. Approximately 62% of analysts have rated the company as a “hold” or an equivalent, and the rest have rated it as a “sell.” Forum Energy Technologies makes up 0.03% of the ProShares UltraPro Russell 2000 ETF (URTY).
By comparison, ~18% of analysts tracking C&J Energy Services (CJES) have rated it as a “buy” or some equivalent, ~64% of analysts tracking CJES have rated it as a “hold,” and the rest have rated it as a “sell.”
Analysts’ recommendations for Forum Energy Technologies
When it comes to individual recommendations, Evercore ISI has given FET a target price of $27, one of its highest target prices. FET is currently trading near $17, implying a ~57% return over the next 12 months.
Capital One Securities, a broker dealer providing a variety of services such as investment banking, has $13 target price on FET. This is one of its lowest target prices, and it implies a -24% return for FET over the next 12 months.
Among the large investment banks, Morgan Stanley (MS) has given FET a target of $19. This implies an ~11% return from FET over the next 12 months.
Analysts’ target prices for FET
While the highest target price for FET is $27, the lowest is $10. The median target price for FET, surveyed among sell-side analysts, is ~$18.4. FET is currently trading near $17, implying a 7% upside at its median price.
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