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Weatherford International Up 5.8% Since Raymond James Upgraded One Week Ago (WFT)

Published on Thu, 03/28/2013 - 09:10
By Peter Chu

Weatherford International was upgraded from Market Perform to Outperform by Raymond James one week ago. Weatherford International shares are selling at $12.13, 5.8% above the $11.46 price point of one week ago.

There is potential upside of 18.0% for shares of Weatherford International based on a current price of $12.14 and an average consensus analyst price target of $14.33. The stock should find resistance at its 50-day moving average (MA) of $12.33, as well as support at its 200-day MA of $11.95.

In the past 52 weeks, shares of Weatherford International have traded between a low of $8.84 and a high of $17.19 and are now at $12.14, which is 37% above that low price. The 200-day and 50-day moving averages have moved 0.02% lower and 0.15% higher over the past week, respectively.

Weatherford International Ltd. provides equipment and services used for the drilling, completion, and production of oil and natural gas wells. The Company offers drilling and intervention services, completion systems, artificial lift systems, and compression services. Weatherford conducts operations in substantially all of the oil and natural gas producing regions in the world.

By Peter Chu
pchu@fnno.com