UPDATE: Dahlman Rose Reiterates Buy Rating, Raises PT on Halliburton Company
In a report published Monday, Dahlman Rose reiterated its Buy rating on Halliburton Company (NYSE: HAL), and raised its price target from $47.00 to $50.00.
Dahlman Rose noted, “Halliburton stock has had for several months one of the largest upsides of any of the 50 stocks in our oil service and drilling research team coverage. It has been one of our strongest Buy recommendations -- all it needed was a catalyst. That catalyst came with a meaningful beat to fourth quarter earnings, the statement that North American earnings have bottomed, and the prospect that international earnings will account for an increasing percentage of earnings. We are increasing our 2013 EPS estimate to $3.15 and increasing our price target to $50 per share from $47 (16x estimated 2013 earnings).”
Halliburton Company closed on Friday at $39.72.
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