Citi Reiterates Buy and PT of $27 on Weatherford International

Citi reiterated its Buy rating on Weatherford International WFT. At the same time, Citi left its price target on the company's stock unchanged at $27. In a research report published today, Citi states, "Weatherford's poorly performing stock is unlikely to get a sustained lift from today's news and likely neither will 2Q11 results serve as a catalyst for the stock. The next catalyst is likely to come from stronger North American and international performance in the second half of 2011. We maintain our Buy-High Risk rating on WFT and our $27 price target." On Monday, Weatherford finished the day at $16.90. Its shares climbed higher in today's pre-market trading, however, rising 1.78% to $27.