Analyst James Rollyson from Raymond James maintained a Buy rating on Weatherford International (WFRD – Research Report) and decreased the price target to $69.00 from $73.00.
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James Rollyson has given his Buy rating due to a combination of factors that highlight Weatherford International’s potential for future growth. Despite recent challenges, such as weaker market conditions and asset divestitures, the company has shown resilience by maintaining a strong balance sheet and focusing on free cash flow conversion and shareholder returns. These strategic priorities position Weatherford more favorably compared to previous downturns.
Furthermore, Weatherford’s recent financial performance exceeded expectations, with revenues surpassing the midpoint of guidance and adjusted EBITDA closely following. The company’s efforts to streamline operations, including the sale of certain businesses, have brought in significant proceeds and reduced capital intensity. These factors, combined with a compelling valuation relative to peers and anticipated market recovery, support Rollyson’s positive outlook on the stock.
WFRD’s price has also changed dramatically for the past six months – from $77.310 to $41.440, which is a -46.40% drop .
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