Zacks Investment Research upgraded shares of Weatherford International Ltd (WFT) from UNDERPERFORM to NEUTRAL on March 20, 2013, with a target price of $12.00.
We are upgrading our recommendation on Weatherford International Ltd. to Neutral from Underperform. During the fourth quarter, the company's earnings and revenues increased on an annual basis, mainly on positive results from all segments except North America. Weatherford foresees sustained growth and expanding margins in its Latin America region, supported by improvements in Argentina and Mexico. We remain optimistic on Weatherford's operational and financial leverage to international growth in 2013. However, Weatherford's debt-heavy balance sheet, its weak incapability to generate strong free cash flow as well as competition from larger peers is cause for concern. Given these headwinds, we believe that the Weatherford shares will move in line with broader market indices.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Weatherford International Ltd (WFT),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment