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Fly News Breaks for January 10, 2019
WFT
Jan 10, 2019 | 08:50 EDT
As previously reported, BMO Capital analyst Daniel Boyd downgraded Weatherford to Market Perform and lowered his price target to $1.00 from $2.50. The analyst says the stock represents a "call-option on the oil cycle", but sees that option "suffering from time decay" and an adverse macro environment. Boyd further acknowledges that the stock has "significant" upside if the company can "endure", but also points to its continued challenges with its $8B gross debt load.
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