Weatherford initiated with an Overweight at Barclays

Barclays analyst J. David Anderson initiated coverage of Weatherford with an Overweight rating and $135 price target. The company has undergone a “radical transformation,” breaking with its past to create a disciplined, accountable organization focused on generating higher margins and free cash flow, the analyst tells investors in a research note. The firm says the stock’s valuation is attractive for one of the few remaining global diversified energy service companies.