Market Overview

UPDATE: Morgan Stanley Downgrades Forest Oil Corporation on Less Attractive Risk-Reward Than Peers

Related FST
Forest Oil Announces Update to Credit Facility - Analyst Blog
Stocks Hitting 52-Week Lows

In a report published Tuesday, Morgan Stanley analyst Drew Venker downgraded the rating on Forest Oil Corporation (NYSE: FST) from Equal-Weight to Underweight, and lowered the price target from $6.00 to $4.00.

In the report, Morgan Stanley noted, “Forest's relatively low asset value upside in the form of potential downspacing, stacked pay, or emerging plays is likely to cause FST shares to underperform peers exposed to those sources of upside. We are downgrading FST to UW from EW and lowering our PT to $4 from $6.”

Forest Oil Corporation closed on Monday at $5.47.

Posted-In: Drew Venker Morgan StanleyAnalyst Color Downgrades Analyst Ratings


Most Popular

Related Articles (FST)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free