UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Weatherford International Ltd. on Continued Recovery Story

In a report published Monday, Credit Suisse analyst James Wicklund reiterated an Outperform rating on

, and raised the price target from $19.00 to $30.00. In the report, Credit Suisse noted, “The market loves a recovery story it can believe in and WFT continues to gain credibility and momentum. We are increasing our 2014 EPS to $1.13 from $0.99 and 2015 to $1.84 from $1.48. Our TP moves to $30...We see very few obstacles that could derail the ‘internal' recovery and the OFS global macro continues to be positive. We have confidence in the execution, having spent a great deal of time understanding the details and processes involved. As a result, we maintain our Outperform rating and increase our target price to $30.” Weatherford International Ltd. closed on Friday at $20.47.