Zacks.com announces the list of stocks featured in the Analyst Blog.
Every day the Zacks Equity Research analysts discuss the latest news and
events impacting stocks and the financial markets. Stocks recently
featured in the blog include: Weatherford International, Ltd.
(NYSE: WFT),
Baker Hughes (NYSE: BHI),
Halliburton (NYSE: HAL),
National-Oilwell Varco (NYSE: NOV)
and W-H Energy (NYSE: WHQ).
See the latest posts to the Analyst Blog: http://www.zacks.com/blog/post_info.html?g=6
Here are highlights from Thursday’s Analyst
Blog:
Weatherford Positives Priced-In
We are maintaining our Hold rating on Weatherford International, Ltd.
(NYSE: WFT)
shares following the company's quarterly results. Revenue was up more
than 21% year-over-year on the back of solid gains in most of the
geographic markets, particularly the Eastern Hemisphere.
We expect continued international strength and recovery in the Canadian
market in the near- to medium-term. However, we believe that
Weatherford's strong leverage to the current cycle and its growing
international presence are adequately reflected in its premium valuation
relative to the peer group.
Weatherford reported modestly weaker-than-expected fourth-quarter 2007
recurring earnings of $0.97 per diluted share (our estimate was $1 per
diluted share), compared to $ 0.76 per diluted share in the year-earlier
quarter and $0.85 per diluted share in the previous quarter. The
year-over-year positive comparison was driven mainly by solid U.S. and
international performance, along with increased rig activity. Fourth
quarter total revenue was $2,191.8 million, up more than 21%
year-over-year.
Weatherford shares command a valuation premium relative to its peers,
based on most conventional metrics. The company's strong leverage to the
current cycle and its growing international base of operations justify
some of this premium, but leave little room for upside, in our view.
While we continue to like Baker Hughes (NYSE: BHI)
and Halliburton (NYSE: HAL)
among the majors, we also like National-Oilwell Varco (NYSE: NOV)
and W-H Energy (NYSE: WHQ)
in this space. We are keeping our 2008 EPS estimate unchanged at $4.40
and introducing our 2009 estimate at $5.44. Our six-month target price
is $66.
Get the full analysis of all these stocks by going to http://at.zacks.com/?id=2649.
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