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Equities researchers at Imperial Capital raised their price target on shares of Forbes Energy Services (NYSE:FES) to $5.00 in a research report issued on Friday. The firm currently has an “in-line” rating on the stock. Imperial Capital’s price objective would indicate a potential upside of 2.17% from the stock’s previous close.

Shares of Forbes Energy Services (NYSE:FES) opened at 4.81 on Friday. Forbes Energy Services has a one year low of $2.93 and a one year high of $5.75. The stock has a 50-day moving average of $5.02 and a 200-day moving average of $4.20. The company’s market cap is $104.4 million.

Forbes Energy Services (NYSE:FES) last released its earnings data on Thursday, August 14th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.06) by $0.02. The company had revenue of $113.20 million for the quarter, compared to the consensus estimate of $113.19 million. On average, analysts predict that Forbes Energy Services will post $-0.25 earnings per share for the current fiscal year.

Forbes Energy Services Ltd. (NYSE:FES) is an independent oilfield services contractor that provides a range of well site services to oil and natural gas drilling and producing companies to help develop and enhance the production of oil and natural gas.

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