Canaccord Genuity Maintains a 'Buy' on Weatherford (WFT); Recent Stock Drop Prices in Q4 Miss/Tax Issues
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Price: $0.37 --0%
Rating Summary:
17 Buy, 19 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 19 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Buy' on Weatherford International (NYSE: WFT) price target of $18.00.
Analyst, Scott Burk, said, "WFT missed the quarter and disclosed continued problems with tax reporting. We feel a healthy dose of skepticism while defending our BUY thesis given the frequent administration problems; however, today's 15% underperformance prices in a lot of that ongoing execution risk."
"Guidance reduces expectations. Q1/12 guidance of $0.30/sh is disappointing compared to consensus/us at $0.34/$0.39. Our new lower 2013 estimate EPS estimate of $1.80 supports our $18/sh target price based on 10x 2013E EPS."
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 $15.36 yesterday.
Analyst, Scott Burk, said, "WFT missed the quarter and disclosed continued problems with tax reporting. We feel a healthy dose of skepticism while defending our BUY thesis given the frequent administration problems; however, today's 15% underperformance prices in a lot of that ongoing execution risk."
"Guidance reduces expectations. Q1/12 guidance of $0.30/sh is disappointing compared to consensus/us at $0.34/$0.39. Our new lower 2013 estimate EPS estimate of $1.80 supports our $18/sh target price based on 10x 2013E EPS."
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 $15.36 yesterday.
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