Evercore ISI analyst James West raised the firm’s price target on Weatherford to $151 from $130 and keeps an Outperform rating on the shares following “another beat and raise” report. The firm believes Weatherford’s continued execution “excellence,” robust margins that are higher than diversified peers, and the introduction of cash returns to shareholders will provide upside through multiple expansion, the analyst tells investors.
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Read More on WFRD:
- Weatherford backs FY24 revenue growth view between double digits and low teens
- Weatherford reports Q1 EPS $1.50, consensus $1.44
- Weatherford Announces $130 Million Credit Facility Increase to $680 Million and Notice to Redeem All of Its 6.50% Senior Notes Due 2028
- Weatherford Releases 2023 Digital Annual Update
- Weatherford price target raised to $135 from $123 at BofA
