Raymond James raised the firm’s price target on Weatherford (WFRD) to $125 from $121 and keeps an Outperform rating on the shares. Despite the ongoing headwinds in the Middle East, Weatherford was able to achieve its original guidance ranges set last quarter, the analyst tells investors in a research note. The firm added that free cash flow came in better than expected, and that commentary on the call by CEO Girish Saligram had a notably more positive tone given the macro shift.
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Read More on WFRD:
- Weatherford price target raised to $113 from $105 at UBS
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