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Fly News Breaks for October 2, 2018
FET
Oct 2, 2018 | 06:04 EDT
Piper Jaffray analyst John Watson upgraded Forum Energy Technologies to Overweight while lowering his price target for the shares to $12.50 from $13.25. The analyst, who lowered his EBITDA estimates for the second half of 2018, 2019 and 2020, says Forum Energy's valuation relative to capital equipment peers screens adequately attractive to justify an Overweight rating. Multiple expansion is "a distinct possibility for the stock over the coming quarters," Watson tells investors in a research note.
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