A number of stock research firms have changed their ratings and price targets for Weatherford (NYSE: WFT) during the last seven days:
- Weatherford had its price target raised by analysts at Global Hunter Securities from $12.00 to $13.00.
- Weatherford had its price target raised by analysts at Jefferies Group from $10.00 to $12.00. They now have a “hold” rating on the stock.
- Weatherford had its price target raised by analysts at Jefferies & Co. from $10.00 to $12.00. They now have a “hold” rating on the stock.
- Weatherford had its price target raised by analysts at MLV Capital from $11.00 to $14.00. They now have a “hold” rating on the stock.
- Weatherford had its price target raised by analysts at Sterne Agee from $13.00 to $14.00. They now have a “buy” rating on the stock.
- Weatherford had its price target lowered by analysts at Barclays Capital from $21.00 to $18.00. They now have an “overweight” rating on the stock.
- Weatherford had its price target lowered by analysts at Susquehanna from $13.00 to $12.00. They now have a “neutral” rating on the stock.
- Weatherford was downgraded by analysts at BMO Capital Markets from a “market perform” rating to an “underperform” rating. They now have a $11.00 price target on the stock, down previously from $14.00. They wrote, “Weatherford (WFT) reported another messy quarter to close out 2012 as it continued to mop up its tax and other operational issues. Operating EPS of $0.1 was far below our $0.20 est. and consensus at $0.18 but in the scheme of things was largely irrelevant. Charges for professional fees ($43 mn), more Iraqi project hits ($64 mn) and a very high exit tax rate to balance the year were the big functional items. While its choke hold on ‘yesterday’s’ tax problems look largely established, they will go without official elimination of the material weakness. Reported improvement in working capital management and some FCF were profiled and a promise to eliminate FCP overhang in 2013 was good news. 1Q13 EPS guidance of $0.16-$0.18c with a 34% tax rate held some caveats as do other quarters (most notably on Iraq).”
- Weatherford had its “hold” rating reaffirmed by analysts at TheStreet. They wrote, “Weatherford International (WFT) has been reiterated by TheStreet Ratings as a hold with a ratings score of C . Among the primary strengths of the company is its revenue growth. At the same time, however, we also find weaknesses including deteriorating net income, a generally disappointing performance in the stock itself and feeble growth in the company’s earnings per share.”
Shares of Weatherford opened at 11.60 on Wednesday. Weatherford has a one year low of $8.84 and a one year high of $17.75. The stock’s 50-day moving average is currently $12.61. The company’s market cap is $8.871 billion.
Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells.
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