Halliburton Price Target Raised at Deutsche Bank (HAL)

Share |

Analysts at Deutsche Bank raised the price target for the oilfield services firm Halliburton Company ( HAL ) on Wednesday, maintaining a "Buy" rating.

The analysts increased the valuation for HAL from $50 to $58. The new target is an +81% increase from Tuesday's closing price of $32.04.

Deutsche Bank commented, "We maintain a BUY rating as HAL is among the best positioned to take advantage of rising capital intensity from the NOCs and IOCs as profitability improvement internationally, particularly in "emerging service" markets like the Middle East takes place. HAL also enjoys a market-leading position in high-end US plays and, as part of our new framework, is also exposed to high-margin deepwater/international plays which the company remains well positioned to benefit from the continued recovery."

Halliburton shares were down 23 cents, or -0.72%, in premarket trading on Wednesday.

The Bottom Line
Shares of Halliburton ( HAL ) have a 1.12% dividend yield, based on last night's closing stock price of $32.04. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $35-$36 price levels.

Halliburton Company ( HAL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com

This article appears in: Investing , Stocks

Referenced Stocks: HAL

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com