Vetr Downgrades Weatherford Following CEO Announcement

The Vetr crowd on Thursday downgraded their rating for Weatherford International Plc WFT from 5 stars (Strong Buy), issued two days ago, to 4 stars (Buy). At the time of the downgrade, crowd sentiment for Weatherford was edging positive, with 66 percent of Vetr user ratings bullish.

The sentiment on Weatherford turned extremely bullish early in March with the announcement the company was bringing on Halliburton Company HAL CFO Mark McCollum to serve as manager and CEO. Following the news, Weatherford spiked over 12 percent to a nine-month high of $6.63 before settling back below $6.50.

Along with the price action, Weatherford also received a pair of upgrades from Capital One and Clarksons Platou, the former putting it at Overweight while the latter set the stock at Neutral.

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Currently, the Vetr crowd's average target price for Weatherford is up at $7.02, which is a little below the average analyst target price of $7.61. Less than 2 percent of Vetr users are holding WFT in their watch lists.