Weatherford’s “Equal Weight” Rating Reaffirmed at Morgan Stanley (WFT)
Weatherford (NYSE:WFT)‘s stock had its “equal weight” rating restated by research analysts at Morgan Stanley in a report released on Wednesday, Analyst Ratings Network.com reports. They currently have a $18.00 target price on the stock, up from their previous target price of $17.00. Morgan Stanley’s price target suggests a potential upside of 15.53% from the stock’s previous close.
The analysts wrote, “WFT delivered in-line results, reiterated guidance, and resolved back office issues. WFT has a high possibility of becoming the turnaround story of 2014 as it divests non-core businesses, cuts costs, and reduces leverage. Not finding an acceptable price for non-core assets is a risk, in our view.”
Shares of Weatherford (NYSE:WFT) traded up 3.15% during mid-day trading on Wednesday, hitting $16.07. The stock had a trading volume of 2,386,522 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 $14.33 and its 200-day moving average is $15.27. The company’s market cap is $12.364 billion.
Weatherford (NYSE:WFT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. Analysts expect that Weatherford will post $1.08 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on WFT. Analysts at Thomson Reuters/Verus upgraded shares of Weatherford from a “hold” rating to a “buy” rating in a research note on Monday. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Weatherford in a research note on Friday, January 31st. They now have a $13.00 price target on the stock. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Weatherford in a research note on Friday, January 31st. They now have a $24.00 price target on the stock, down previously from $26.00. Fifteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $17.22.
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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