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Fly News Breaks for December 11, 2018
WFT
Dec 11, 2018 | 07:53 EDT
Wells Fargo analyst Judson Bailey downgraded Weatherford to Market Perform from Outperform as he adjusted his macro and company models for slower global D&C spending growth in conjunction with the lower oil price forecasts set by the firm's E&P team. In addition to the macro uncertainty, he sees escalating balance sheet risk for Weatherford, Bailey tells investors. He lowered his price target on Weatherford shares to $2 from $5.
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