Goldman Sachs Starts Halliburton (HAL) at Conviction Buy

Goldman Sachs initiates coverage on Halliburton (NYSE: HAL) with a Conviction Buy list rating and $55 price target.

HAL is an investment on the forecast growth in US drilling activity and the forecast tightness in pressure pumping, the firm notes. However the company is much more than that.

"Through luck or shrewd planning, HAL has positioned itself extremely well to benefit from the major trends in the oil and gas upstream business," the analyst comments.

HAL has become the number 1 player in shale.

Over the next decade, Goldman expects shale and tight sand developments will grow at a rate above conventional drilling in the international markets. HAL has a great opportunity to take a greater piece of the international pie, they note.

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 $33.40 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Raymond James Starts SpyGlass Pharma (SGP) at Outperform
• Alliance Global Partners Starts Momentus (MNTS) at Buy
• Jefferies Starts Aehr Test Systems (AEHR) at Buy