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Fly News Breaks for March 3, 2016
WFT
Mar 3, 2016 | 07:32 EDT
UBS said Weatherford's equity raise has helped to remove fear of bankruptcy as an overhang. The firm believes the transaction was done as an insurance policy as the company does not need the cash today but it will help to improve on-going negotiations with banks to institute a new credit line. UBS maintained its Buy rating but lowered its price target to $11 from $12 on Weatherford shares.
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