Halliburton tops earnings estimates, forecasts stronger demand
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Goldman Sachs Upgrades Halliburton (HAL) to 'Buy' From 'Neutral' on Clearer Path to Improved Returns and Dividends
July 21, 2021 9:57 AM EDTGoldman Sachs analyst Neil Mehta upgraded shares of Halliburton (NYSE: HAL) to Buy from Neutral as he believes the company has entered a new, positive, phase after a few challenging years.
The analyst notes that HAL has underperformed the Energy Select Sector SPDR Fund (XLE) by 27% over the past five weeks. However, the tide may be changing given the stronger than expected margin outlook through 2023, accelerated deleveraging prospects, and the potential for improving capital return to shareholders through an upsized... More
