Citi Maintains 'Buy' Rating on Halliburton (HAL), A Flight to Quality in Oil Services
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Citi maintains a 'Buy' rating on Halliburton Co (NYSE: HAL). Price target $36.
Citi analyst says, "No Refuge as Yet in High Quality Oil Service Stocks — There has been no refuge for investors in the stocks of the financially strongest, highest quality technology leaders in oilfield services. Concerns about the depth and breadth of the coming slowdown in demand for oil and gas drilling services have hurt all oil service providers. It is worth noting, however, that early signs of changing buying patterns among the oil companies favor the long-established, top-tier companies like HAL."
Halliburton Company provides a variety of services and products to customers in the energy industry.
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