Goldman Sachs Downgrades Weatherford International (WFT) to Neutral

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Goldman Sachs downgraded Weatherford International (NYSE: WFT) from Buy to Neutral with a price target of $14.00 (from $19.00), saying they expect the tax overhang on the stock to continue.

"While results were sound operationally in 2Q12, especially in the international arena, the lack of resolution on internal tax control issues will likely remain an overhang on the stock until they are resolved," the analyst said.

For an analyst ratings summary and ratings history on Weatherford International click here. For more ratings news on Weatherford International click here.

Shares of Weatherford International closed at $11.67 yesterday, with a 52 week range of $10.85-$22.76.

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