To be clear from the outset, Weatherford (NYSE:WFT)
has given investors ample reason over the years to hate the management
and have nothing to do with the stock. It's likewise entirely fair to
say that a leader who presided over the making of an epic mess is rarely
the person to lead the company out of it.
That said, I believe
there is more than a little stubbornness out there regarding Weatherford
and I believe that ignoring the cost and management improvements made
by the company is a mistake. The current state of the North American
onshore market is lousy, but I had already expected that, and I still
believe that Weatherford shares ought to trade closer to the mid-teens.
There is most definitely a real risk that the onshore market(s) stay
weaker for longer, but I likewise believe there is an opportunity for a
new and improved Weatherford to emerge as a viable new Top Three player
in a market that wants one.
For the full article, follow the link:
Weatherford Slowly Changing The Tone
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