Weatherford named a Top Pick for 2013 at Macquarie Macquarie named Weatherford a Top Pick for 2013 given its under-appreciated earnings power and margin tailwinds from Artificial lift, drilling, construction, and formation evaluation. Shares are Outperform rated with a $17 price target.
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.