Boston, MA 10/07/2013 (wallstreetpr) – Forest Oil Corporation (NYSE:FST) has a “neutral” rating from Zacks, the latest in its ratings. This latest rating is Zacks’ reiteration on the stock and it comes with a price objective of $6.75. This price objective indicates an approximate 6.30% potential upside from the prevailing price.
Although analysts at Zacks are convinced that the oil company has good standing, it is exposed to some volatile natural gas hiccups which could slow its stellar performance.
Besides Zacks’ latest rating on the stock, several other rating agencies have echoed their sentiments on FST. In a rating report release Tuesday last week, Societe Generale downgraded FST to “hold” down from the previous “buy”. Analysts at Societe Generale have $7 price objective on the stock. In the previous rating by the firm, they assigned FST $9 in price target.
Sentiments over FST have also come from Stifel Nicolaus who downgraded the stock in their Sept 23, rating report. The analysts now have a “hold” rating on the stock, down from the previous “buy” rating.
Separately, Morgan Stanley has an “equal weight” rating on the stock, up from the previous “underweight” rating. The rating report was released on July 18. The Stanley now has a price target of 46 on the stock, down from $7 in the previous research note to investors.
This far, at least 12 analyst have issued their rating on FST, out of which one holds a “sell” rating on the stock, and another one analysts has a “buy” rating on the stock. And 10 analysts have assigned FST a “hold” rating. In view of the above, FST has a consensus rating of “hold” and a consensus price objective of $7.09.
The independent gas and oil company released its last quarterly earnings report August 6, in which in realized $0.06 per share earning against the consensus estimate of $0.02. In similar quarter in the trailing year, FST noted $0.06 EPS. Analysts expect the company to realize $0.29 EPS this fiscal year.
On the revenue side, the oil and gas company recorded $116.81 million in the last quarter, but missed the consensus revenue estimate of $120.13 million.
