Weatherford stock price target cut by Evercore ISI By Investing.com
Evercore ISI has updated its outlook on Weatherford International plc (NASDAQ: NASDAQ:), lowering the price target to $142.00 from $149.00, while maintaining an Outperform rating on the stock.
The firm’s analysis indicates that despite a somewhat weaker near-term outlook, Weatherford is poised to benefit from a favorable geographical mix and the sustained international and offshore market upcycle.
The report suggests that growth expectations in key regions such as the Middle East, Latin America, and Asia have been adjusted and are anticipated to stay moderate into 2025.
Nevertheless, Weatherford’s efficient cost structure and cost reduction initiatives, including supply chain optimization and the adoption of a low-cost country…
