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What Analysts Expect for FET ahead of Its 2Q16 Earnings

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Nov. 20 2020, Updated 11:13 a.m. ET

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).

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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.

Learn more about the oil and gas industry on Market Realist’s Energy and Power page.

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