FBR Capital Upgrades Weatherford International (WFT) to Outperform
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FBR Capital upgraded Weatherford International (NYSE: WFT) from Market Perform to Outperform, $26 price target. "Stock Sell-Off Presents Buying Opportunity"
The firm said, "we are upgrading Weatherford International Ltd. (WFT) to Outperform from Market Perform based on the knee-jerk reaction by investors following the company's announcement of a material weakness in tax accounting. Specifically, the resulting change in tax accounting has no material bearing on cash flow or day-to-day operations, and we believe the stock will recover as investors realize the earnings upside from both Weatherford's North American artificial lift business and improving international margins."
FBR said Halliburton (NYSE: HAL) or another large-cap players could be interested in the buying company for its artificial lift business.
For more ratings news on Weatherford International click here and for the rating history of Weatherford International click here.
Shares of Weatherford International closed at $23.52 yesterday, with a 52 week range of $12.34-$26.25.
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The firm said, "we are upgrading Weatherford International Ltd. (WFT) to Outperform from Market Perform based on the knee-jerk reaction by investors following the company's announcement of a material weakness in tax accounting. Specifically, the resulting change in tax accounting has no material bearing on cash flow or day-to-day operations, and we believe the stock will recover as investors realize the earnings upside from both Weatherford's North American artificial lift business and improving international margins."
FBR said Halliburton (NYSE: HAL) or another large-cap players could be interested in the buying company for its artificial lift business.
For more ratings news on Weatherford International click here and for the rating history of Weatherford International click here.
Shares of Weatherford International closed at $23.52 yesterday, with a 52 week range of $12.34-$26.25.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
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