Jefferies Tweaks Weatherford (WFT) PT Down to $9

Jefferies analyst Brad Handler lowered his price target on Weatherford International (NYSE: WFT) to $9.00 (from $10.00) but maitnianed a Buy rating.

Handler commented, "The combination of lower (and amortizing) credit availability and softer FCF makes WFT's condition more tenuous to be sure. We model neutral FCF in 2016 but improving EBITDA and that is enough to keep WFT liquid and compliant. That said, some additional liquidity would be welcomed. We continue to choose to give them credit for earnings power upon recovery and maintain our Buy rating. We tweak the PT down $1 to $9 and lower 2016E/2017E EPS."

For an analyst ratings summary and ratings history on Weatherford International click here. For more ratings news on Weatherford International click here.

Shares of Weatherford International closed at $5.67 yesterday.

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