Jefferies Reiterates Buy on Halliburton (HAL) Following 3Q

October 20, 2016 8:45 AM EDT
Get Alerts HAL Hot Sheet
Price: $54.54 -1.16%

Rating Summary:
    31 Buy, 7 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
Trade HAL Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

Jefferies reiterated a Buy rating and $58.00 price target on Halliburton (NYSE: HAL) following the company's 3Q earnings report. 2017 EPS estimates were raised by $0.10 based on higher NAM margins partially offset by lower NAM revenues and modestly lower International margins. The 2018 EPS estimate remains $3.00.

Analyst Brad Handler commented, "HAL remains our top pick in OFS as we stay focused on exposure to secular growth (US completions, in our view) and believe that HAL's competitive position globally can help drive rapid margin improvement off of bottom. We are intrigued by the conversation about asset-light, but sense it relates to not broadening/vertically integrating as opposed to pulling back from current capabilities. We tweak 2017E EPS up to $1.10 from $1.00."

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 $49.07 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change

Related Entities

Jefferies & Co, Earnings

Add Your Comment