Analysts at Deutsche Bank raised the price target for the
oilfield services firm Halliburton Company (
) 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
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
Halliburton shares were down 23 cents, or -0.72%, in premarket
trading on Wednesday.
The Bottom Line
Shares of Halliburton (
) 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 (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.0 out of 5 stars.
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, as well as a detailed explanation of
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