UPDATE: Goldman Sachs Color on Forest Oil Target Decrease

Goldman Sachs, which lowered its PT on shares of Forest Oil Corp. (NYSE: FST), is providing some color on the stock.

“Forest and Canada subsidiary Lone Pine Resources announced guidance for 2Q 2011 and 2H 2011,” Goldman Sachs writes. “Combined production guidance for FY 2011 was reduced by 8%, though largely driven by natural gas and NGLs (we revise our oil production forecast higher). Combined 2011 capex was raised to around $900 mn from $625 mn.”

Forest Oil closed Wednesday at $28.07.