Gabelli Has Buy on Weatherford Int'l

Gabelli & Co. is out with a research report on Weatherford Int'l Ltd (NYSE: WFT) and it has a Buy rating on shares.

In a note to clients, Gabelli & Co. writes, "WFT's larger exposure to Canada (10% of revenue) and artificial lift (17% of revenue & 25% of North American revenue) should position the company to outperform peers in the event of a reduction in North American pressure pumping. We also expect international activity and pricing to increase, leading to sequential improvements in Weatherford's quarterly earnings."

Shares of WFT are up 57 cents to $15.24, a gain of almost 4% so far.