Goldman Sachs Lifts PT on Weatherford International plc (WFRD) to $107 From $83 - Here's Why

Weatherford International plc (NASDAQ:WFRD) is one of the best oil stocks with highest upside potential.

Goldman Sachs lifted the price target on Weatherford International plc (NASDAQ:WFRD) to $107 from $83 on March 4, reiterating a Neutral rating on the shares and telling investors that while geopolitical risks may create near-term challenges, early signs of dislocations exist, which could present opportunities when compared to fundamentals. Goldman Sachs does not anticipate the current geopolitical concerns to meaningfully impact long-term customer plans, as significant portions of the activity increases are structural in offsetting decline rates and increasing production capacity.

In a separate development, Weatherford International plc (NASDAQ:WFRD) announced on February 12 that it has been awarded a multi-year Integrated Completions contract by TotalEnergies in Denmark. Management reported that the contract reflects TotalEnergies’ confidence in Weatherford International’s (NASDAQ:WFRD) technical expertise, execution capabilities, and commitment to delivering high-quality well solutions. According to the terms of the agreement, Weatherford International plc (NASDAQ:WFRD) will deliver leading completions products and services supporting offshore operations in Denmark.

Weatherford International plc (NASDAQ:WFRD) provides services and equipment to the natural gas and oil exploration and production industry. The company has operations in the Drilling and Evaluation (DRE), Well Construction and Completions (WCC), and Production and Intervention (PRI) segments.

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