Barclays Defends Halliburton (HAL): Revised Guidance Not a Pricing Issue; Guar Harvest Bountiful in November
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Price: $34.73 --0%
Rating Summary:
34 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 14
Rating Summary:
34 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 14
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Barclays maintains an 'Overweight' on Halliburton (NYSE: HAL) price target of $56.00 (from $58.00).
Analyst, James C. West, defends the big oil company, saying, "The biggest driver of guar price inflation this year has been continued demand growth, particularly in light of the transition from gas to oil. This year's crop is 3x last year's and will be harvested in November, in time for January delivery, at which time we should see considerable price relief for guar."
West feels HAL, at current prices (8x 2012 estimates) is a compelling value. However, given guar price inflation on the company's cost structure, West cuts FY12 EPS estimate from $3.65 to $3.40 and FY13 from $4.20 to $4.05.
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 C. West, defends the big oil company, saying, "The biggest driver of guar price inflation this year has been continued demand growth, particularly in light of the transition from gas to oil. This year's crop is 3x last year's and will be harvested in November, in time for January delivery, at which time we should see considerable price relief for guar."
West feels HAL, at current prices (8x 2012 estimates) is a compelling value. However, given guar price inflation on the company's cost structure, West cuts FY12 EPS estimate from $3.65 to $3.40 and FY13 from $4.20 to $4.05.
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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