UPDATE: Raymond James Upgrades Halliburton Company to Outperform, Names $63 PT on Continued Optimism

In a report published Wednesday, Raymond James analyst J. Marshall Adkins upgraded the rating on

from Market Perform to Outperform, and named a $63.00 price target. In the report, Raymond James noted, “Our continued optimism on 2014 North American E&P capex is a theme we've been consistently touting. As such, we're upgrading the premier North American service company, Halliburton, to Outperform with a target price of $63. Our optimism is fueled by 1) upward bias to consensus EPS via North American operations, 2) upcoming Analyst day, and 3) option value in international turnaround.” Halliburton Company closed on Tuesday at $48.66.