UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Raises PT on Weatherford International Ltd. Following 4Q13 Earnings Report

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In a report published Wednesday, Morgan Stanley analyst Ole Slorer reiterated an Equal-Weight rating on

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Weatherford International Ltd.

(NYSE: WFT), and raised the price target from $17.00 to $18.00.In the report, Morgan Stanley noted, “WFT delivered in-line results, reiterated guidance, and resolved back office issues. WFT has a high possibility of becoming the turnaround story of 2014 as it divests non-core businesses, cuts costs, and reduces leverage. Not finding an acceptable price for non-core assets is a risk, in our view.”Weatherford International Ltd. closed on Tuesday at $15.58.