UBS Upgrades Weatherford International to Buy Amid Growth Progress
Weatherford International (WFRD) saw its stock rise by 1.9% on Thursday after investment bank UBS upgraded the company's rating from Neutral to Buy, setting a price target of $114 per share. The upgrade comes despite recent challenges linked to the ongoing conflict in the Middle East, which has caused Weatherford’s shares to decline by 18% since its onset. UBS highlighted that Weatherford is delivering on growth initiatives even amid near-term headwinds, suggesting confidence in the company's long-term potential. The firm appears optimistic about improvements in market conditions and operational performance at Weatherford.
Tickers: $WFRD
Topics: energy services stock upgrade UBS