Market Overview

UPDATE: Imperial Capital Initiates Coverage on Forbes Energy Services Awaiting Improved Fundamentals

Related FES
Earnings Scheduled For March 27, 2015
Imperial Capital Lowers Forbes Energy Services' Price Target
Forbes Energy Svcs misses by $0.06, misses on revenue (Seeking Alpha)

In a report published Wednesday, Imperial Capital analyst Scott Levine initiated coverage on Forbes Energy Services (NASDAQ: FES) 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.

Latest Ratings for fes

Dec 2014Imperial CapitalMaintainsIn-line
Nov 2014Imperial CapitalMaintainsIn-line
Aug 2014Imperial CapitalMaintainsIn-line

View More Analyst Ratings for fes
View the Latest Analyst Ratings

Posted-In: imperial capital Scott LevineAnalyst Color Initiation Analyst Ratings


Related Articles (fes)

Around the Web, We're Loving...