Morgan Stanley Bullish On Halliburton

Shares of Halliburton (NYSE: HAL), the second-largest provider of oilfield services, are up slightly today and Morgan Stanley sees more short-term gains on the way, saying in a note “At this point, HAL screens attractively as a result of a recent sell-off following the resurfacing of old Macondo news and profit downgrades of competitors following their mixed margin signals on the recent conference circuit. Our 4Q11 EPS estimate remains ahead of the Street.”

The bank said shares of Halliburton “will rise in absolute terms over the next 60 days.” Morgan Stanley rates Halliburton overweight.