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UPDATE: Jefferies Reduces PT to $44 on Halliburton on Offshore Drilling Forecast

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Jefferies reiterated its Buy rating on Halliburton (NYSE: HAL) but reduced its price target from $47 to $44.

Jefferies noted, "We lower 3Q12 EPS estimates for our services and land drillers and make select adjustments for offshore drillers. An equipment preview is to come separately. Although North America weakness is telegraphed, we expect earnings to matter for shares. Onshore drillers likely print “better” than most Service names."

Halliburton closed at $34.07 on Tuesday.

Latest Ratings for HAL

DateFirmActionFromTo
Nov 2014JefferiesMaintainsBuy
Nov 2014Cowen & CompanyDowngradesOutperformMarket Perform
Nov 2014Credit SuisseMaintainsOutperform

View More Analyst Ratings for HAL
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

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