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Fly News Breaks for February 5, 2016
WFT
Feb 5, 2016 | 07:50 EDT
Raymond James analyst Marshall Adkins upgraded Weatherford two notches to Strong Buy from Market Perform and established a $12 price target on shares. The analyst believes early 2016 will be the bottom in oil prices with a sharp recovery in the second half of the year, which should help companies leveraged to U.S. land. Adkins said Weatherford has significantly less credit risk and has provided a path towards 2016 solid cash flow generation despite weak activity, and expects shares to outperform as oil moves back up.
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