Wells Fargo Upgrades Halliburton (HAL) to Outperform

January 6, 2014 7:00 AM EST
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Price: $56.45 --0%

Rating Summary:
    32 Buy, 7 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 9 | New: 1
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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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