Sterne Agee Raises Weatherford International PT To $25

Sterne Agee is raising its price objective on Weatherford International, Ltd WFT to $25. “This target represents about 13.2x our 2012 EPS estimate of $1.90, which has been revised up from $1.78,” Sterne Agee writes. “Our 2011 estimate is now $1.30, up from $1.20. “WFT has suffered from a crisis in confidence with consensus exhibiting little in terms of comparable execution. There is an appeal of the international markets coming together, which would boost the confidence directed toward the WFT consensus, but further clarification and quantification of the impact of the impending FCPA (Foreign Corrupt Policies Act) remains vital.” Weatherford International currently trades at $20.69.