Stifel analyst Stephen Gengaro raised the price target on Halliburton (NYSE: HAL) to $43.00 (from $36.00) while maintaining a Buy rating.

The analyst commented, "HAL delivered better-than-expected 1Q26 results fueled by solid performance in both segments. Management highlighted that North America is in the early innings of a recovery, while international activity excluding the Middle East was strong. Despite an expected $0.07-0.09 per share negative impact from the Middle East, 2Q26 operating income guidance matched our pre-release projections that excluded the Middle East headwinds. Exiting the Iran War, as noted in our report titled Key Trends Heading into 1Q26 Earnings Season, we believe other setup is strong for multi-year growth for oil service companies. We are increasing our 2026-27 EBITDA estimates, lifting our target price to $43 from $36 based on higher numbers and multiple expansion, and reiterating our Buy rating."