Loading...
Loading...
In a report published Wednesday, Imperial Capital analyst Scott Levine initiated coverage on
Forbes Energy ServicesFES with an In-Line rating and $4.50 price target.
In the report, Imperial Capital noted, “We are initiating coverage of FES with an In-Line rating and a one-year price target of $4.50, 14% above the recent price. We view FES as a likely beneficiary of a recovery in U.S. onshore E&P spending, given its broad service portfolio and attractive positioning within several fast-growing shale basins. That said, we view risk-reward as fairly balanced at current levels, and await evidence of stabilization within the recently-lagging Fluid Logistics business before becoming more positive.”
Forbes Energy Services closed on Tuesday at $3.95.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in