Jefferies Lifts Numbers on Halliburton (HAL); Company Specific Catalysts to Drive Stock Higher

April 23, 2013 9:44 AM EDT Send to a Friend
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Price: $54.67 +3.31%

Rating Summary:
    25 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 13 | New: 40
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Jefferies boosted estimates and its price target on Buy-rated Halliburton (NYSE: HAL) from $47 to $49 citing company-specific catalysts after Q1 results.

"Stronger-than-expected margin recovery shows the strength of HAL's NAM position, in our view, and we are optimistic about completions activity and efficiencies and we raise our 2013/14 estimates," analyst Brad Handler said. "We think efficiency, Macondo settlement and deepwater/production-oriented growth and accelerating dividends and share buybacks are company-specific catalysts for shares and we maintain it as our top large-cap pick."

The firm raised Q2 EPS estimates from $0.69 to $0.74, FY 2013 EPS estimates from $3.00 to $3.25 and FY 2014 EPS estimates from $4.15 to $4.30.

For an analyst ratings summary and ratings history on Halliburton click here. For more ratings news on Halliburton click here.

Shares of Halliburton closed at $39.29 yesterday.


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