BofA raised the firm’s price target on Weatherford to $123 from $120 and keeps a Buy rating on the shares as the company has continued to beat and raise expectations. Consensus FY24 adjusted EBITDA estimates are up 26% and consensus FY24 free cash flow projections are up 16% over the past 12 months, notes the firm, which sees further upside to Weatherford’s cash generation and reiterates the stock as its top 2024 oil field services mid-cap pick.
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