Weatherford price target lowered to $62 from $80 at Piper Sandler

Piper Sandler lowered the firm’s price target on Weatherford to $62 from $80 and keeps a Neutral rating on the shares. The firm notes that both Baker Hughes (BKR) and Weatherford (WFRD) came under pressure on Wednesday, with shares sliding 6% and 7%, respectively, compared to -2% OIH, which Piper primarily attributes to meaningful earnings cuts as it reduced its 2025 EBITDA for Baker Hughes and Weatherford by 4% and 19%, respectively.