In a report released today, Marc Bianchi from Cowen & Co. assigned a rating to Forum Energy Tech (NYSE: FET), with a price target of . The company’s shares opened today at $13, close to its 52-week high of $26.25.
Currently, the analyst consensus on Forum Energy Tech is Hold and the average price target is $17.33, representing a 33.3% upside.
In a report released yesterday, Scotiabank also maintained a Hold rating on the stock with a $24 price target.
Based on Forum Energy Tech’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $201 million and GAAP net loss of $77.9 million. In comparison, last year the company earned revenue of $143 million and had a GAAP net loss of $28.54 million.
Forum Energy Technologies, Inc. is a global oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The company operates through following segments: Drilling & Subsea; Completions; and Production & Infrastructure.