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Wall Street’s Forecasts for WFT after Its 2Q16 Earnings

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Nov. 20 2020, Updated 4:50 p.m. ET

Wall Street’s forecasts for WFT

In this article, we’ll look at Wall Street analysts’ forecasts for Weatherford International’s (WFT) shares following its 2Q16 earnings release.

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Consensus rating for Weatherford International

Approximately 66% of analysts tracking Weatherford International rated it as a “buy” or some equivalent. Approximately 26% rated the company as a “hold” or some equivalent. Only 8% of analysts recommended a “sell” on WFT. Weatherford International makes up 0.02% of the iShares MSCI World ETF (URTH). The energy sector makes up 6.6% of URTH.

In comparison, approximately 60% of analysts tracking Flotek Industries (FTK) rated it as a “buy” or some equivalent, and approximately 40% have rated it as a “sell.”

Analysts’ recommendations for WFT

Evercore ISI gave Weatherford International one of its lowest target prices of $7 following its 2Q16 earnings release. Weatherford International currently trades near $5.7, implying ~22% return for the next 12 months. Among the global investment banks, Morgan Stanley (MS) gave WFT a one-year target price of $13, one of its highest target prices. This implies a 127% return over the next year.

UBS, another global investment bank, gave Weatherford International a one-year target price of $9. This implies a ~-57% return at its current price over the next 12 months.

Analysts’ target prices for WFT

Following its 2Q16 financial results, the highest target price for WFT is $13, and the lowest is $7. The median target price surveyed among sell-side analysts is $7.9. WFT is currently trading at ~$5.7, implying a ~38% upside at its median price.

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