Goldman Sachs Says Halliburton (HAL) Is Nearing an Inflection Point

Goldman Sachs said Halliburton (NYSE: HAL) said is "nearing its inflection and rerating."

While the company's attractive valuation has never been in doubt, Goldman thinks investors have been worried about corrections in consensus EPS estimates and weakening of NA margins. Given that current margin guidance for 2012 is 24% below the historical average (2005-2011), the under-earning is unlikely to continue, they said.

The firm reiterated their Conviction Buy List rating and price target of $46, suggesting 35% upside.

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 $34.17 yesterday.

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