A JPMorgan Securities analyst upgraded Weatherford International Ltd. on Monday, saying the oilfield services company is more likely to meet expectations as they ease.
JPMorgan Securities analyst Michael LaMotte said the reason he had an "Underweight" rating on the stock was he thought the Houston-based company might miss earnings estimates. As Wall Street's estimates have sunk by 10 percent, he said that risk is diminished.
He upgraded Weatherford to "Neutral."
Questions or comments about this story should be directed to Associated Press reporter Dan Seymour at 212-621-7190.
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