Wells Fargo Upgrades Halliburton (HAL) to Outperform

January 6, 2014 7:00 AM EST Send to a Friend
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Price: $55.26 -1.06%

Rating Summary:
    26 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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Wells Fargo upgraded Halliburton (NYSE: HAL) from Market Perform to Outperform with a price target of $57.00.

"We think HAL is currently valued at an attractive (re)entry point and are upgrading the stock to Outperform from Market Perform (Reminder, we downgraded HAL to Market Perform on 9/9/13)," analyst Matthew Conlan comments. "Shorter-term, we are lowering our Q4 estimate to $0.89 from $0.93 to adjust for more difficult early winter weather in NA as well as a reduction of our Europe/Africa/CIS margin estimate. As such, we are lowering our full year 2013 EPS estimate to $3.11 from $3.15.

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 $50.13 yesterday.


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