A report released today by Cowen about Forum Energy Tech. (NYSE:FET) ups the target price to $18.00
- Updated: October 13, 2016
Yesterday Forum Energy Tech. (NYSE:FET) traded -2.26% lower at $21.65. Forum Energy Tech.’s 50-day average is $18.92 and its two hundred day average is $16.81. The last close is up 28.76% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the date range. Trading volume was up over the average, with 1,164,422 shares of FET changing hands over the typical 813,349
In a report released on Friday October 14, 2016 Cowen increased the target of Forum Energy Tech. (NYSE:FET) to $18.00 stating a potential downside of -0.17%.
See Chart Below
With a total market value of $0, Forum Energy Tech. has one year low of $8.47 and a one year high of $22.85 .
In addition to Cowen reporting its stock price target, a total of 20 brokerages have issued a research note on the company. The average target price is $16.81 with three analysts rating the company a strong buy, six equity analysts rating the company a buy, thirteen brokerages rating the company a hold, 0 firms rating the stock a underperform, and finally 0 brokers rating the company a sell.
Brief Synopsis About Forum Energy Tech. (NYSE:FET)
Forum Energy Technologies, Inc. is an oilfield products company. The Company designs, manufactures and distributes products and engages in aftermarket services, parts supply and related services. It operates through two segments: Drilling & Subsea, and Production & Infrastructure. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas. Its capital products are targeted at drilling rig equipment for rigs, upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on producing wells; pressure pumping equipment, and downstream capital projects. Its engineered systems are components used on drilling rigs for completions or in the course of subsea operations, while its consumable products are used to maintain operations at well sites in the well construction process.
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