In this part, we’ll look at Wall Street analysts’ forecast for Weatherford International (WFT) shares.
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On March 17, 2017, ~74% of the analysts tracking Weatherford International rated it a “buy” or some equivalent. Approximately 20% rated the company a “hold” or some equivalent. Only 6% of the analysts recommended a “sell” or some equivalent. Weatherford International is 3.6% of the iShares US Oil Equipment & Services ETF (IEZ).
In comparison, ~67% of the analysts tracking Key Energy Services (KEG) rated it a “buy” or some equivalent. Approximately 33% of the analysts rated the company a “hold.” Key Energy Services is Weatherford International’s smaller market cap peer in the oilfield services industry.
From December 17, 2016, to March 17, 2017, the percentage of analysts recommending a “buy” or some equivalent for Weatherford rose from 73% to 74%. A year ago, ~71% of the sell-side analysts recommended a “buy” for Weatherford.
On March 17, Wall Street analysts’ mean target price for Weatherford was $7.46. Weatherford was trading at $6.15 on March 17. It implies ~21% upside at its current mean target price. A month ago, analysts’ average target price for Weatherford was $7.5. Read What Does Weatherford’s Relative Valuation Suggest? to learn more about Weatherford’s valuation.
The mean target price, surveyed among sell-side analysts, for Oil States International (OIS) was $39.9 on March 17. Currently, Oil States International is trading at ~$33. It implies 22% upside at its average target price. The mean target price, surveyed among sell-side analysts, for Oceaneering International (OII) is $29.8. Currently, Oceaneering International is trading at ~$26. It implies 15% upside at its average price.
To learn more about the OFS industry, read What Oilfield Services Companies’ Forward Multiples Indicate.