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Fly News Breaks for March 7, 2017
HAL, WFT
Mar 7, 2017 | 07:44 EDT
Credit Suisse analyst James Wicklund notes that Mark McCollum, now-former CFO of Halliburton (HAL), has been appointed President and CEO of Weatherford (WFT). The analyst sees this move as "bestowing a great deal of credibility" to the company in addition to" a de facto blessing" of the restructuring efforts under taken over the past several years. Wicklund expects the stock reaction to be positive. He reiterates an Outperform rating and $9 price target on Weatherford's stock.