Halliburton Upgraded to “Outperform” by Raymond James (HAL)
Halliburton (NYSE:HAL) was upgraded by equities researchers at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $63.00 target price on the stock. Raymond James’ target price suggests a potential upside of 29.47% from the company’s current price.
The analysts wrote, “Our continued optimism on 2014 North American E&P capex is a theme we’ve been consistently touting. As such, we’re upgrading the premier North American service company, Halliburton, to Outperform with a target price of $63. Our optimism is fueled by 1) upward bias to consensus EPS via North American operations, 2) upcoming Analyst day, and 3) option value in international turnaround.”
Halliburton (NYSE:HAL) opened at 48.66 on Wednesday. Halliburton has a 52-week low of $29.83 and a 52-week high of $50.50. The stock’s 50-day moving average is $48.83 and its 200-day moving average is $44.35. The company has a market cap of $44.455 billion and a price-to-earnings ratio of 23.82.
Halliburton (NYSE:HAL) last issued its quarterly earnings data on Monday, July 22nd. The company reported $0.73 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.72 by $0.01. The company had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter last year, the company posted $0.82 earnings per share. Halliburton’s revenue was up 1.1% compared to the same quarter last year. Analysts expect that Halliburton will post $3.21 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company cut their price target on shares of Halliburton from $67.00 to $63.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Halliburton from $54.00 to $58.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Halliburton in a research note to investors on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. Halliburton presently has a consensus rating of “Buy” and an average target price of $56.70.
Halliburton Company is an oilfield services company. The Company is provider of services and products to the energy industry related to the exploration, development, and production of oil and natural gas.
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