Dahlman Rose Still Views Halliburton (HAL) as Top Oilfield Pick; Not Intimidated By Guar Gum
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Price: $34.42 +4.81%
Rating Summary:
34 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
34 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Dahlman Rose maintains a 'Buy' on Halliburton (NYSE: HAL) price target of $57.00.
Analyst, James Crandell, said, "HAL remains one of our top picks in the oilfield services space. It is trading at an attractive valuation based on anticipated earnings in 2012, 2013 and beyond and is nearing its prior cycle valuation on a price-to-tangible book value."
"We are trimming our estimates to $3.30 (from $3.55) in 2012 and to $4.05 (from $4.25) in 2013 to reflect the margin impact of this. The company continues to seek to mitigate the cost increases through customer relief, as well as the increased use of synthetic and other guar alternatives. We think North America margins will remain under pressure through the first half of 2013 before recovering to over 20% by late 2013."
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 $28.10 yesterday.
Analyst, James Crandell, said, "HAL remains one of our top picks in the oilfield services space. It is trading at an attractive valuation based on anticipated earnings in 2012, 2013 and beyond and is nearing its prior cycle valuation on a price-to-tangible book value."
"We are trimming our estimates to $3.30 (from $3.55) in 2012 and to $4.05 (from $4.25) in 2013 to reflect the margin impact of this. The company continues to seek to mitigate the cost increases through customer relief, as well as the increased use of synthetic and other guar alternatives. We think North America margins will remain under pressure through the first half of 2013 before recovering to over 20% by late 2013."
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 $28.10 yesterday.
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