Firms Positive on Halliburton (HAL), Despite Strong Move Over Past Month

Shares of Halliburton (NYSE: HAL) have been on a tear in the last month, moving up over 19%, including today's move up 3.3%.

Yesterday, HAL reported Q2 EPS of $0.81, $0.09 better than the analyst estimate of $0.72. Revenue for the quarter came in at $5.94 billion versus the consensus estimate of $5.66 billion.

This morning, Canaccord Genuity and UBS raises their respective price targets (to $67 and $68). Both firms maintained a 'Buy' rating on the stock as well.

Canaccord analyst, Scott Burk, also saw cited Industry Implications including:
Positive for Baker Hughes (NYSE: BHI), Complete Production (NYSE: CPX), RPC (NYSE: RES), Basic Energy (NYSE: BAS) and Weatherford (NYSE: WFT), while international weakness bodes poorly for Schlumberger (NYSE: SLB).

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