Forest Oil's (FST) stock has come under a lot of pressure in the past several months, in the aftermath of the major strategic repositioning by the company.
The $1 billion sale of the Texas Panhandle assets highlighted challenges that Forest had faced for quite some time and made obvious the valuation shortfall relative to the company's stock price at the time of the announcement (which I discussed in my October 4, 2013 note Forest Oil: Disappointing Asset Sale Raises Valuation Concerns). Since the announcement of the divestiture (when the shares traded at $6.36), the stock has been in a continuous decline and has lost almost half of its market capitalization.
In my most recent note (Forest...
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