Goldman Sachs Starts Weatherford International (WFT) at Buy

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Goldman Sachs initiates coverage on Weatherford International (NYSE: WFT) with a Buy rating and $22 price target.

The firm notes, Weatherford has high leverage to US oil and international land drilling. The see both segments staying strong in 2012.

"We are forecasting nearly 28% pick-up in oil related drilling and 26% increase in liquids-rich drilling in the US between 4Q11 and 4Q12, while dry gas rig count is forecast to fall by 30%," 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 $14.79 yesterday, with a 52 week range of $10.85-$28.11.

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