Sterne Agee Maintains Buy Rating and $20 PT on Weatherford International

A report from Sterne Agee reiterates its Buy rating and $20 price target on Weatherford International (NYSE: WFT).

The report states, “We believe the operating income beat (+5.2% vs. our estimate) combined with in-line 4Q guidance is a net positive for WFT shares today. In addition, we expect continued North America pricing improvement led by Artificial Lift and lighter headwinds in the Eastern Hemisphere to buoy results going forward”.

WFT closed yesterday at $15.12.