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

April 23, 2013 9:44 AM EDT
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Price: $56.45 +2.01%

Rating Summary:
    32 Buy, 7 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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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