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FET - A Falling Order Book Points To Forum Energy's Troubled Times
Forum Energy Technologies Inc.
Expect A Revenue Squeeze For FET
Forum Energy Technologies (FET) serves the drilling, subsea, completions, production and infrastructure business in the energy sector. Following the reduction in the upstream capex, the demand from capital equipment is slated to fall in 2019, which has reduced the company’s orders in Q1. I expect FET’s stock price to remain depressed in the short-term. However, if the crude oil price steadies at the current level, it can lead to improved upstream activity, which can increase the returns from this stock in the medium-to-long term.