Weatherford (WFT) PT Lowered to $7 at Jefferies, 'Buy' Maintained
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Jefferies analyst Brad Handler lowered his price target on Weatherford International (NYSE: WFT) to $7.00 but maintained a Buy rating.
Handler commented, "y. Our Buy implies that under-explained FCF problems are resolved in recovery and we take incremental confidence from new (CEO-level) leadership. We expect revenue to be helped by relatively low offshore exposure (we think ~10% of 2016E revenue)."
Shares of Weatherford International closed at $4.94 yesterday.
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