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Fly News Breaks for February 13, 2017
FET
Feb 13, 2017 | 08:16 EDT
Credit Suisse analyst Jacob Lundberg says that Forum Energy's Q4 results, despite meeting consensus EPS, sent its shares down as the market expectations were "ahead of reality." The analyst believes Forum Energy remains a NAM unconventionals levered play with an asset-light business model that produces strong free cash flow and ROIC, and expects 2017 to show "strong revenue growth." Lundberg reiterated an Outperform rating on the stock, but lowered his price target on the shares to $23 from $25.
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