Jefferies Trims Numbers On Halliburton (HAL), Capex Looks Soft
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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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Analysts at Jefferies lowered estimates on Halliburton (NYSE: HAL) to reflect more conservative expectations for global upstream spending in 2013.
"We ease back our revenue and EBIT growth assumptions for HAL primarily to reflect broader conservatism -- Jefferies' global upstream capex outlook, as compiled from our oil company coverage expectations, is for flat yoy capex spending in 2013, including 2% growth outside of North America (non-NAM)," said analyst Brad Handler.
"We are candidly a bit more optimistic than that for total upstream spending but we nevertheless believe some additional conservatism versus our recently published estimates is warranted," he said.
Jefferies lowered HAL 2013 EPS to $3.00 from $3.15 and 2014 to $4.25 from $4.45. It also trimmed its price target to $42.00 (from $45.00)
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 $33.54 yesterday.
"We ease back our revenue and EBIT growth assumptions for HAL primarily to reflect broader conservatism -- Jefferies' global upstream capex outlook, as compiled from our oil company coverage expectations, is for flat yoy capex spending in 2013, including 2% growth outside of North America (non-NAM)," said analyst Brad Handler.
"We are candidly a bit more optimistic than that for total upstream spending but we nevertheless believe some additional conservatism versus our recently published estimates is warranted," he said.
Jefferies lowered HAL 2013 EPS to $3.00 from $3.15 and 2014 to $4.25 from $4.45. It also trimmed its price target to $42.00 (from $45.00)
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 $33.54 yesterday.
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