Credit Suisse Increases Forest Oil Corp. Price Target to $5.00 (FST)
Stock analysts at Credit Suisse upped their price objective on shares of Forest Oil Corp. (NYSE:FST) from $4.00 to $5.00 in a report issued on Friday, Analyst Ratings Network reports. The firm currently has an “underperform” rating on the stock. Credit Suisse’s price objective suggests a potential downside of 12.89% from the stock’s previous close.
Forest Oil Corp. (NYSE:FST) traded down 9.61% on Friday, hitting $5.74. 18,031,420 shares of the company’s stock traded hands. Forest Oil Corp. has a one year low of $3.77 and a one year high of $9.12. The stock has a 50-day moving average of $5.87 and a 200-day moving average of $5.02. The company’s market cap is $667.1 million.
Forest Oil Corp. (NYSE:FST) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.04. The company had revenue of $116.81 million for the quarter, compared to the consensus estimate of $120.13 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. Analysts expect that Forest Oil Corp. will post $0.29 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group reiterated an “in-line” rating on shares of Forest Oil Corp. (NYSE:FST) in a research note to investors on Friday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Forest Oil Corp. (NYSE:FST) in a research note to investors on Thursday. They now have a $6.75 price target on the stock. Finally, analysts at Societe Generale downgraded shares of Forest Oil Corp. (NYSE:FST) from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. They now have a $7.00 price target on the stock, down previously from $9.00. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $7.09.
Forest Oil Corporation (NYSE:FST) is an independent oil and gas company engaged in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in North America.
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