Brokerage Firm Rating Update on Forum Energy Technologies (FET)

Forum Energy Technologies (FET) : 13 analysts are covering Forum Energy Technologies (FET) and their average rating on the stock is 2.08, which is read as a Buy. 6 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 7 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Forum Energy Technologies (FET) : The consensus price target for Forum Energy Technologies (FET) is $18.38 for the short term with a standard deviation of $2.98. The most optimist securities analyst among the 12 who monitor the stock believes that the stock can reach $23, however, the pessimist price target for the company is $12.


For the current week, the company shares have a recommendation consensus of Buy. Also, Major Brokerage house, Citigroup maintains its ratings on Forum Energy Technologies (NYSE:FET). In the latest research report, Citigroup raises the target price from $16 per share to $18 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. The rating by the firm was issued on September 2, 2016.

Forum Energy Technologies (NYSE:FET): stock was range-bound between the intraday low of $18 and the intraday high of $18.37 after having opened at $18.36 on Wednesdays session. The stock finally closed in the red at $18.36, a loss of -0.71%. The stock remained in the red for the whole trading day. The total traded volume was 426,137 shares. The stock failed to cross $18.37 in Wednesdays trading. The stocks closing price on Thursday was $18.35.

Forum Energy Technologies, Inc. is an oilfield products company. The Company designs, manufactures and distributes products and engages in aftermarket services, parts supply and related services. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas. Its capital products are targeted at drilling rig equipment for rigs, upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on producing wells, and downstream capital projects. Its engineered systems are components used on drilling rigs or in the course of subsea operations, while its consumable products are used to maintain operations at well sites in the well construction process, within the supporting infrastructure and at processing centers and refineries. Its segments are Drilling & Subsea and Production & Infrastructure.

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