Most Analysts Recommend a ‘Buy’ for Weatherford

Wall Street’s forecasts for Weatherford

In this article, we’ll look at Wall Street analysts’ forecasts for Weatherford International (WFT) following its Q2 2018 earnings release.Most Analysts Recommend a ‘Buy’ for Weatherford

Analysts’ rating for WFT

As of July 27, 2018, after Q2 2018 earnings, approximately 76% of Wall Street analysts tracking Weatherford International rated it a “buy” or some equivalent. Approximately 20% rated the company a “hold.” Only 4% of sell-side analysts recommended a “sell” or an equivalent. In comparison, all Wall Street analysts tracking Helix Energy Solutions (HLX) rated it a “buy” or some equivalent as of July 27, according to data collected by Reuters.

Analysts’ rating changes for WFT

From April 27 to July 27, 2018, the percentage of sell-side analysts recommending a “buy” or some equivalent for WFT has increased from 69% to 76%. Earlier, as of July 27, approximately 73% of sell-side analysts recommended a “buy” for WFT.

Analysts’ target prices for WFT

Wall Street analysts’ mean target price for WFT as of July 27 was $4.47. WFT is currently trading at $3.48, implying ~28% upside at its current price. A month ago, analysts’ average target price for WFT was $4.41.

Target prices for WFT’s peers

The mean target price among sell-side analysts for Now (DNOW) was $14.2 as of July 27. DNOW is currently trading at ~$14.2, implying 1% downside at its current price. The mean target price surveyed among sell-side analysts for Oceaneering International (OII) was $21.8 as of July 27. OII is currently trading at ~$26.0, implying 16% downside at its current price.

Learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.