Weatherford initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Weatherford (WFRD) with an Outperform rating and $105 price target The firm says the company offers investors exposure to “peer-leading” cash generation and returns. The shares trade at an attractive entry point due to the disruption in the Middle East, the analyst tells investors in a research note. RBC believes Weatherford shares are discounting meaningful risk associated with the Iran war. The stock should re-rate higher on the company’s solid free cash flow and return on equity metrics, the firm contends.