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Fly News Breaks for March 14, 2019
FET
Mar 14, 2019 | 09:29 EDT
Citi analyst Scott Gruber upgraded Forum Energy to Buy from Neutral and raised his price target for the shares to $8.00 from $6.50. The company has made free cash flow a priority and believes it can generate $100M annually, Gruber tells investors in a research note. The analyst sees "room to run" for the shares given that Forum just recently swung to free cash flow generation. Further, large portions of its business have suffered significant declines and thus have greater upside potential, contends Gruber.
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