Barclays Kicks Off Energy Conference with Halliburton (HAL); Not All Aces, But Still Top Pick

Barclays maintains an 'Overweight' on Halliburton (NYSE: HAL) price target of $54.00 (from $57.00)

Analyst, James C. West, said, "Halliburton kicked off our 2012 Barclays CEO Energy Conference yesterday and the company's presentation focused on the key themes of rising service intensity, growth in unconventionals, deepwater and mature assets, and superior integration. Given the decline in the U.S. rig count since the end of 2Q, a lackluster recovery in Canada from the spring breakup, and persistent pricing weakness in stimulation, 3Q Street earnings estimates are likely to move modestly lower."

Despite this, West, says HAL remains a Top Pick. However, he does lower FY12 EPS estimate from $3.35 from $3.20 and FY13 from $4.15 to $3.90.

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 $32.15 yesterday.

---

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

---

You May Also Be Interested In

• Golar LNG Ltd. (GLNG) PT Raised to $70 at BTIG
• Freedom Broker Downgrades Holley (HLLY) to Hold
• Hon Hai Precision Industry Co Ltd. (2317:TT) (HNHPD) PT Raised to NT$435 at Macquarie