Monday, September 13, 2010

Forest Oil (NYSE:FST) Upgraded by Barclays (NYSE:BCS)

Forest Oil (NYSE:FST) was upgraded by Barclays (NYSE:BCS) from "Equalweight" to "Overweight."

Ongoing success in production is seen as potentially driving the upside of the company.

"Continued success in the Granite Wash could drive some upside to our production estimates in '10 and '11. Success in the Nikanassin play in Canada and Eagle Ford Shale could have a greater impact to the growth profile in 2012 and beyond," said Barclay.

The price target on Forest Oil was also increased by Barclays from $38 a share to $40 a share.

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