UPDATE: Deutsche Bank Raises PT on Halliburton Company on Good Growth Position
In a report published Tuesday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on Halliburton Company (NYSE: HAL), and raised the price target from $54.00 to $56.00.
In the report, Poole noted, “HAL remains well positioned for growth in 2013 as the company continues to expand its international footprint and benefits from improving North American activity levels. While the focus remains on capital discipline, HAL will also return cash to shareholders as free cash flow generation increases and as it moves closer to settling its Macondo liability. In North America, margins improved more than just lower guar costs would imply as HAL benefits from greater efficiencies and rising service intensity.”
Halliburton Company closed on Monday at $39.29.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.