BMO Capital Thinks Weatherford’s Stock is Going to Recover

By Austin Angelo

In a report issued on October 11, Daniel Boyd from BMO Capital reiterated a Buy rating on Weatherford (NYSE: WFT), with a price target of $5.50. The company’s shares closed yesterday at $3.99, close to its 52-week low of $3.39.

According to TipRanks.com, Boyd is a 2-star analyst with an average return of 0.8% and a 52.2% success rate. Boyd covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Diamond Offshore Drilling, and Oil States International.

Currently, the analyst consensus on Weatherford is Moderate Buy and the average price target is $5.79, representing a 45.1% upside.

In a report issued on October 6, Cowen & Co. also reiterated a Buy rating on the stock with a $7.50 price target.

The company has a one-year high of $7.09 and a one-year low of $3.39. Currently, Weatherford has an average volume of 16.25M.

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Weatherford International Plc provides equipment and services to the oil and natural gas exploration and production industry. It operates its business through the following business groups: Formation Evaluation & Well Construction, Completion & Production and Land Drilling Rigs.