Goldman Sachs Group Inc (NYSE: GS) raised its price target on Halliburton Co (NYSE: HAL) from $42.00 to $43.00 following yesterday’s results. Goldman also reiterated Halliburton’s status on its “Conviction Buy” list.
Halliburton reported first quarter earnings per share of $0.28, beating analyst estimates of $0.25. Revenue for the first quarter was $3.76 million, compared to estimates of $3.76 million.
Goldman Sachs raised its 2010 EPS estimates for Halliburton by 6% to $1.56, 2011 by 4% to $2.45 and 2012 by 4% to $2.75.
Goldman Sachs commented, “higher margins in N.A. and an improved outlook for international markets are likely to drive positive estimate revisions and we would use today’s inline stock performance as a buying opportunity.”
