Jefferies Upgrades WFT To Buy, Raises PT To $27

Jefferies is upgrading Weatherford International WFT shares to Buy from Hold and raising price target to $27 from $19. “WFT's exposure to oily plays around the world and its operating leverage to rising international activity bodes well for the share performance over the next 9-12 months,” Jefferies writes. “We are upgrading WFT shares as part of our strategic positioning for 2011, not as a call on 4Q results.” Weatherford International closed Monday at $22.08.