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Weatherford (NYSE:WFT) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Tuesday, AR Network reports. They currently have a $17.00 target price on the stock, down from their previous target price of $18.50. Morgan Stanley’s price objective indicates a potential upside of 18.96% from the stock’s previous close.

The analysts wrote, “While we do expect the company to put its back office issues around taxes and DoJ settlements behind them, we note that it is likely to take a high-growth environment for the stock to outperform.”

WFT has been the subject of a number of other recent research reports. Analysts at Guggenheim downgraded shares of Weatherford from a “buy” rating to a “neutral” rating in a research note to investors on Monday, January 6th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Weatherford in a research note to investors on Thursday, January 2nd. They now have a $16.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Weatherford from $22.00 to $26.00 in a research note to investors on Tuesday, December 17th. They now have an “overweight” rating on the stock. Fifteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $17.32.

Shares of Weatherford (NYSE:WFT) traded up 0.91% on Tuesday, hitting $14.4201. The stock had a trading volume of 3,416,741 shares. Weatherford has a one year low of $11.11 and a one year high of $17.38. The stock’s 50-day moving average is $15.08 and its 200-day moving average is $15.22. The company’s market cap is $11.095 billion.

Weatherford (NYSE:WFT) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.01. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $4.10 billion. Weatherford’s revenue was up .0% compared to the same quarter last year. On average, analysts predict that Weatherford will post $0.79 earnings per share for the current fiscal year.

Weatherford International Ltd. (NYSE:WFT) 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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