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FET

Forum Energy

$1.55

-0.005 (-0.32%)

09:20
09/30/19
09/30
09:20
09/30/19
09:20

Forum Energy downgraded to Neutral from Buy at Citi

Citi analyst Scott Gruber downgraded Forum Energy to Neutral from Buy and lowered his price target for the shares to $1.80 from $3.00. The analyst recently cut his 2020 U.S. rig count forecast, which now calls for a 5% year-over-year decline next year. Gruber adds that despite the recent pullback in shares of land drillers, his estimates are now ~30% below consensus for 2020. He cites Forum Energy's leverage for the downgrade and expect the company's end markets to remain challenged through 2020.

FET Forum Energy
$1.55

-0.005 (-0.32%)

03/14/19
SBSH
03/14/19
DOWNGRADE
Target $4
SBSH
Neutral
Citi downgrades Nabors to Neutral on back half weighted outlook
Citi analyst Scott Gruber downgraded Nabors Industries (NBR) to Neutral from Buy and cut his price target for the shares to $4.00 from $6.70. The analyst coupled the downgrade with an upgrade of Forum Energy (FET) to Buy from Neutral. Nabors' free cash flow outlook is weighted towards the second half of 2019, with Q1 likely to be a cash burn of $40M-plus, Gruber tells investors in a research note. He believes the magnitude of the cash burn in Q1 will lead to investors questioning if the company can reach its $200M-$250M free cash flow target for the year. With the shares up 70% year-to-date, Gruber expects a "pause" into Nabors' Q1 results. The analyst's top three picks in U.S. Oil Services are Patterson-UTI (PTEN), Keane Group (FRAC) and Forum Energy.
03/14/19
03/14/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. General Mills (GIS) upgraded to Buy from Hold at Deutsche Bank with analyst Rob Dickerson saying although the stock is up 20% year-to-date, pressure still exists in the company's snack bar and soup categories, and divestment dilution risk looms. 2. Snap (SNAP) upgraded to Buy from Neutral at BTIG with analyst Richard Greenfield citing the "surge in spending in North America on Snapchat from advertisers," who are increasingly focused on its "compelling" return on investment. 3. Hilton (HLT) upgraded to Buy from Hold at Argus with analyst John Staszak saying the company should see above-peer-average earnings growth over time thanks to its "asset-light business model, in which it franchises rather than owns hotels." 4. Forum Energy (FET) upgraded to Buy from Neutral at Citi with analyst Scott Gruber saying the company has made free cash flow a priority and believes it can generate $100M annually. 5. Petrobras (PBR) upgraded to Buy from Hold at HSBC. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/29/19
GABE
07/29/19
DOWNGRADE
GABE
Hold
Forum Energy downgraded to Hold from Buy at Gabelli
Gabelli analyst Simon Wong downgraded Forum Energy Technologies to Hold from Buy following last week's Q2 results.
09/30/19
SBSH
09/30/19
DOWNGRADE
SBSH
Neutral
Forum Energy downgraded to Neutral from Buy at Citi

TODAY'S FREE FLY STORIES

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Treasury's $90 B 4- and 8-week bill auctions were mixed »

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APHA

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BPTH

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  • 19

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-0.49 (-6.88%)

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Intelsat put volume heavy and directionally bearish »

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  • 10

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KLAC

KLA-Tencor

$163.03

-10.53 (-6.07%)

, LRCX

Lam Research

$264.95

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AMD

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  • 21

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UBER

Uber

$29.44

1.42 (5.07%)

, ADYYF

Adyen

$0.00

(0.00%)

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Periodicals
Uber 'not in conversations' with Germany's Wirecard, Reuters reports »

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UBER

Uber

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1.42 (5.07%)

ADYYF

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$0.00

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WCAGY

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  • 21

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GPX

GP Strategies

$12.25

-0.14 (-1.13%)

11:31
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GP Strategies holder Cove Street now 'active,' urges exploration of alternatives »

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FB

Facebook

$198.26

0.76 (0.38%)

11:29
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Facebook reviewing possible changes to political ad policy, WSJ says »

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  • 26

    Nov

TWTR

Twitter

$30.40

1.23 (4.22%)

11:26
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Hot Stocks
Twitter making hiding of replies available to all users globally »

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  • 06

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FB

Facebook

$198.58

1.08 (0.55%)

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Breaking Periodicals news story on Facebook »

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  • 26

    Nov

AXP

American Express

$119.14

-0.14 (-0.12%)

11:25
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American Express call volume above normal and directionally bullish »

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  • 06

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LB

L Brands

$16.73

1.33 (8.64%)

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Recommendations
L Brands analyst commentary  »

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  • 21

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  • 27

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General news
Treasury announced a $113 B 3-pronged package of shorter/intermediate coupon offerings »

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AZN

AstraZeneca

$47.31

0.3 (0.64%)

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  • 07

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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SITM

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  • 21

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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11:15
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LYFT

Lyft

$46.63

2.78 (6.34%)

11:10
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Options
Heavy call volume in Lyft as shares lift 6% »

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  • 09

    Dec

11:09
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General news
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