Weatherford downgraded to Outperform from Strong Buy at Raymond James

Raymond James downgraded Weatherford (WFRD) to Outperform from Strong Buy with a price target of $69, down from $73. Weatherford’s weakness tied to its “outsized” Mexico exposure continues to plague near-term results as Pemex activity has declined by more than originally expected, while indicating a flattening out from here, the analyst tells investors in a research note. The firm expects macro uncertainty to remain until the tariff situation gets resolved.