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Weatherford International (NYSE:WFT) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Monday. The firm currently has a $27.00 price objective on the stock. Zacks‘s target price would suggest a potential upside of 18.73% from the company’s current price.

Zacks’ analyst wrote, “Weatherford International reported mixed first-quarter results with earnings beating the Zacks Consensus Estimate but revenues missing over the year-ago number. Going forward there are plenty of positives for Weatherford, including its leading position in the global oilfield services market, its broad and technologically-complex product/service offerings, and its growing presence in the relatively stable Eastern Hemisphere. The company is well positioned to take advantage of the multi-year expansion in the international upstream segment. The process is ongoing and is likely to gather momentum through 2014. Thus, we upgrade our recommendation from Neutral to Outperform and set a price target of $27.00.”

Several other analysts have also recently commented on the stock. Analysts at Susquehanna raised their price target on shares of Weatherford International from $21.00 to $24.00 in a research note on Wednesday, July 2nd. Separately, analysts at Drexel Hamilton initiated coverage on shares of Weatherford International in a research note on Friday, June 20th. They set a “hold” rating and a $23.00 price target on the stock. Finally, analysts at Societe Generale downgraded shares of Weatherford International from a “buy” rating to a “hold” rating in a research note on Thursday, June 12th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $22.77.

In other Weatherford International news, SVP William B. Jacobson unloaded 27,234 shares of the company’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $22.78, for a total value of $620,390.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Weatherford International (NYSE:WFT) traded down 1.93% on Monday, hitting $22.30. 3,694,092 shares of the company’s stock traded hands. Weatherford International has a one year low of $13.07 and a one year high of $23.25. The stock has a 50-day moving average of $22.05 and a 200-day moving average of $17.86. The company’s market cap is $17.230 billion.

Weatherford International (NYSE:WFT) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $3.60 million for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Analysts expect that Weatherford International will post $1.08 EPS 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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