Weatherford estimates lowered below Street at UBS UBS lowered Weatherford's Q4 and 2013 earnings estimates below the Street due to a slow down in it North American business and to a less extent Latin America. The firm rates shares a Neutral with a $12 price target, up from $10.
Weatherford downgraded to Underperform from Outperform at CLSA CLSA downgraded Weatherford to Underperform from Outperform despite raising its price target to $15 from $12. CLSA's analyst believes the advancement of unconventional drilling has been one of the most disruptive technologies in the sectors' history and will derail cycle normalization near-term. The firm believes the industry will need half as many rigs to keep production flat until attrition right-sizes the industry.