Oppenheimer Sees Strong 2011 for Weatherford International

Oppenheimer is out with its report on Weatherford International WFT. In a note to clients, Oppenheimer writes, "After 26% upside since October (S&P500 up 5%), the stock could see near-term profit taking. However, continued earnings momentum through 2012 leads us to raise our price target to $28 from $23 based on our 2012 estimate. Reiterate Outperform." WFT closed yesterday at $21.16.