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UPDATE: Deutsche Bank Initiates Forum Energy Tech with Buy, PT of $30; High Quality Mid-Cap

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Deutsche Bank initiates its price target on Forum Energy Tech (NYSE: FET) with a Buy rating and a $30 price target on shares.

Deutsche Bank notes, "FET fills a significant void in the oil service space by offering investors a high quality SMID cap name with leverage to some of the strongest secular growth themes in the industry and one of the highest quality management teams we have seen in a company this size. In particular, management has positioned FET to benefit from the growth in deepwater/ subsea, rising well complexity and higher service intensity."

FET closed at $21.34 on Wednesday.

Latest Ratings for FET

DateFirmActionFromTo
Apr 2016Morgan StanleyMaintainsEqual-weight
Apr 2016iBERIA Capital PartnersMaintainsSector Perform
Mar 2016CitigroupDowngradesBuyNeutral

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View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Initiation Intraday Update Analyst Ratings

 

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