UPDATE: ISI Group Reiterates Strong Buy Rating, Raises PT on Halliburton Company
In a report published Monday, ISI Group reiterated its Strong Buy rating on Halliburton Company (NYSE: HAL), and raised its price target from $47.00 to $50.00.
ISI Group noted, “We reiterate our Strong Buy on HAL based on our expectation of continued solid growth and execution internationally and a NAM market that should finally start to experience some margin tailwinds due to a modest increase in activity, lower costs, and growth in the deepwater GOM. With growing confidence that its NAM business will start to grow again (albeit modestly) and continued market share gains internationally, we are increasing our 12-month PT to $50 from $47 as we expect multiples to expand as 2H13 and 2014 results come into better focus.”
Halliburton Company closed on Friday at $39.72.
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