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.
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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