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Wall Street’s Forecasts for WFT before 3Q16 Earnings

Alex Chamberlin - Author

Oct. 19 2016, Updated 11:04 a.m. ET

Wall Street’s forecasts for WFT

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Consensus rating for Weatherford International

Approximately 70% of analysts tracking Weatherford International rated it a “buy” or some equivalent. Approximately 21% rated the company a “hold” or an equivalent, and the rest 9% rated it as “sell.” WFT is 2.2% of the iShares US Oil Equipment & Services ETF (IEZ).

By comparison, none of the analysts tracking CARBO Ceramics (CRR) have rated it a “buy” or some equivalent, while approximately 77% of analysts tracking it have rated it as “hold.” The rest of the analysts rated it as “sell.”

Analysts’ recommendations for Weatherford International

When it comes to the most recent recommendations, RBC Capital markets, a Canadian investment bank, gave WFT a target price of $9. WFT currently trades near $6.2, implying ~46% return over the next 12 months. Another independent advisor, Capital One Securities, gave WFT a target of $8. This implies 30% return from Weatherford International over the next 12 months.

Piper Jaffray (PJC), a US-based investment bank, has an $8.30 target price for WFT. This target, at the current share price, implies nearly a 35% return over the next 12 months.

Analysts’ target prices for Weatherford International

While the highest target price for WFT is $13, the lowest is $4. The median target price surveyed among sell-side analysts for WFT is ~$7.9. WFT is currently trading at ~$6.2, implying ~30% upside at its median price.


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