FET - Forum Energy Technologies Stands Guard Over The Market Turns
FET to improve FCF as growth concerns prevail
Forum Energy Technologies (FET) serves the drilling, subsea, completions, production and infrastructure business in the energy sector. I do not expect FET to beat the industry headwinds and its stock price can remain depressed in the in the short-term. However, FET is a resilient company and is likely to withstand the pricing pressure at a $50 crude oil price. If the crude oil price recovers from here, FET’s margin will improve, and its stock price will reflect more attractive valuation multiples. Despite the completion activity