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UPDATE: Morgan Stanley Initiates Coverage on Forum Energy Technologies on Positive Outlook

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In a report published Tuesday, Morgan Stanley analyst Ole Slorer initiated coverage on Forum Energy Technologies (NYSE: FET) with an Overweight rating and $35.00 price target.

In the report, Morgan Stanley noted, “While operational execution has been choppy since FET's 2012 IPO, we believe current growth expectations have become realistic given strength in end user markets and easy scope for modest operational improvements. We see ~20% upside to our Base Case and >70% upside to our Bull Case.”

Forum Energy Technologies closed on Monday at $29.04.

Latest Ratings for FET

DateFirmActionFromTo
Jul 2016Credit SuisseUpgradesNeutralOutperform
Jul 2016CitigroupMaintainsNeutral
Jul 2016JP MorganDowngradesNeutralUnderweight

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Posted-In: Morgan Stanley Ole SlorerAnalyst Color Initiation Analyst Ratings

 

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