In a report published Monday, Jefferies reiterated its Buy rating on Halliburton Company HAL, and raised its price target from $42.00 to $47.00.
Jefferies noted, “HAL offered a supportive-enough outlook for 2013 to sustain confidence in our $3 EPS estimate, although we did make it more back-end weighted (we lowered 1Q13E to $0.55 from $0.65). Better than expected non-NAM margins in 4Q12 and in 2013 guidance (high-teens %) support the view that the international cyclical story is not "broken", but in fact is gathering momentum, which we think is required for multiple expansion. Reiterate Buy.”
Halliburton Company closed on Friday at $39.72.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in