Seeking Alpha

Forum Energy Tech upgraded at Global Hunter

  • Forum Energy Technologies (FET +0.2%) is upgraded to Neutral from Reduce with a $28 price target, up from $24, at Global Hunter, which offers faint praise for FET's slight Q3 earnings beat.
  • While commentary and guidance was nothing special, "the story is not getting that much worse," sparking the upgrade; the combination of businesses in the portfolio is diverse enough that as one segment is doing poorly another should pick up the slack, the firm writes.
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